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1 July 2024 | 0 replies
Together, we negotiated favorable terms with the seller, ensuring a beneficial deal.
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1 July 2024 | 6 replies
It explains that tenants under lease will adjust at the end of the lease term.
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1 July 2024 | 12 replies
They brought in leases over the budgeted rents and did it just in time for the end of the term.
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1 July 2024 | 3 replies
Your list looks good but as others mentioned it doesn't hurt to think long term and explore refi options as well.
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30 June 2024 | 5 replies
Short term or long term?
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30 June 2024 | 5 replies
Sub 2 was not in my vocabulary 3 years ago when I started in Real Estate, now Sub 2 or buying subject to its existing financing is a common term I use daily!
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30 June 2024 | 2 replies
Total rents at 100% occupancy across the three are $2900 monthly.I'm thinking because the financing terms are soooo attractive that it may be worth the higher risk that comes with the high PITI?
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30 June 2024 | 4 replies
Its going to be more about those factors than any local market factors for DSCR Lenders.The lender should have gone over the prepayment provisions more closely before closing, but assuming you likely have whats called a "stepdown" prepayment penalty shorthand called "5/4/3/2/1" - this means that you can refinance and prepay, however if done in the first year of term you will have to pay a 5% fee, second year 4%, third year 3% etc.
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2 July 2024 | 108 replies
Thank you for your detailed response!
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30 June 2024 | 4 replies
Make sure the $400-$500/month cash flow is enough to cover unexpected costs.It wouldn't hurt to look for other refi options or consider a different loan option, which might offer better terms.