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19 September 2024 | 5 replies
You mention you have no experience in these types of parks and your first deal you want to take down 100.When I was working for a GC we did a condo project for a developer who never developed a building before and he sold his company (it company) and used the entire amount to develop real estate.He ended going bankrupt because his inexperience with his experience and his designers and every mistake they made was multiplied by 150 since that is how many units there were.
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17 September 2024 | 2 replies
That severely limited the number of lenders I could go to, so I ended up finding a loan product (that costs a premium, albeit) thru Velocity Capital Mortgage that allows fully-amortizing or IO payments (for first 10 years) which will help me build cash flow and accrue title seasoning while I find the right time to pull the trigger on a fully-amortizing DSCR product Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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16 September 2024 | 40 replies
The first is equity.
20 September 2024 | 13 replies
I also have no issue getting conventional financing, but am going DSCR in order to get up to the 75% LTV.I don't think i really need any more quotes at this time, that is not why i am posting this, just wanted to get other's thoughts.....
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13 September 2024 | 4 replies
My partner has a stable full-time job, but his photography business is not as steady as he'd like.We're interested in purchasing a multifamily property in either Baltimore, MD, or Hagerstown, MD, to kickstart our real estate journey.
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20 September 2024 | 2 replies
and most of the time is bad management, bought the wrong price, Interest and Insurance to the roof and, I cant get out the Bridge loan to do a DSCR loan etc ...Simple hands on, work do research and minimize risk.
17 September 2024 | 4 replies
I've seen some posts arguing about design and color scheme choices that are in and out of style in rehabs and flips so I figured I would give my first hand advice.
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16 September 2024 | 8 replies
Also, if I was to take out $50k from the first property to put a 25% down payment on the second house, would there be an easy way to tap into the rest of the equity in the first house if I wanted to take another $50k to buy another house in the future?
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17 September 2024 | 3 replies
Is it a bad idea to rent out my childhood home for the time being?