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6 August 2024 | 0 replies
Anything helps, per this example we could say:A single family home that is not builder grade but not luxury so in the middle being 1,600 sqft, 3 bed, 2 bath.Also a:duplex that is 2000sqft vertical build that is identicle layout on floor 1 and 2. each unit would be 1000 sqft and 2 bed, 1 bath.To note, the loan on property 3 is a DSCR loan because there is not 2 years of stable income from me because I am still in college.If there is anymore info that could be needed please let me know.
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6 August 2024 | 9 replies
Being flexible on the location and the income strategy you want to use will help make that process quicker.
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7 August 2024 | 32 replies
Despite risks, the projected returns surpass those of traditional retirement accounts.Seeking Advice:I would like your advice on whether using my retirement funds for real estate investment is a good idea, considering the potential risks, returns, tax implications, and any alternative strategies.Thank you for your help!
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6 August 2024 | 6 replies
This helps set the right expectations and build trust.
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2 August 2024 | 11 replies
Thank @Dan H.This was very helpful to think about.
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7 August 2024 | 1 reply
This is never accomplished in hard money loans and some may feel this adds more risk to the lender not having interest paid as you go, I argue that not having to come up with that monthly interest payment reduces the amount of capital needed for that project total and there by reduces the loan to value needed which helps both parties.
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7 August 2024 | 15 replies
2) You are a control freak and won't let your PMC do their job- Can't help you3) You don't really have a PMC and are self-managing, yet don't know what you're doing- There are inconsistencies in your postings that make this a possibilityFor #2 & #3 above, use this:https://www.legislature.mi.gov/Publications/tenantlandlord.p...
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7 August 2024 | 9 replies
The intent is the sponsor needs to know enough about investor to feel comfortable the investor has the financial knowledge and acumen to properly evaluate the potential risks and benefits of any investment and the financial stability to invest capital for a 5 to 7 year period.Topics of discussion with sponsor would be:Income, credit, job stability, prior investment experience either with real estate or other asset types, education level, occupation and profession, amount of savings or funds in retirement accounts.Hope this helps.
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7 August 2024 | 22 replies
If you need contacts for any vendors let me know I'm happy to help
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6 August 2024 | 38 replies
If there's anything I can do to help, don't hesitate to reach out.