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28 July 2023 | 7 replies
Ensure that your methodology is airtight before embarking, and give everyone a fair split.
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29 June 2023 | 10 replies
Here is what I have so far:At any time before, during, after investment:I or any of my team unexpectedly dies, becomes seriously ill, or injuredAn impassable disagreement occurs between any 2 parties of the investment teamA member of the investment team fails(for any reason) to uphold their agreementBefore purchase:Incorrect property valuationInability to secure financing after earnestDuring Financing and purchase:Loan executor fails to follow through with the loan.Loan executor misleads or baits me with incorrect terms and conditionsSeller withdraws contractSeller tries to renegotiate contractSeller withdraws agreement to carry loanTitle issuesDuring rehabilitation:Cost overrun - If the cost to complete a rehab exceeds the estimated cost budgeted.Time overrun - If the allotted time to complete a rehab is exceededUnforseen issues - if issues arise due to unknown/hidden problems, termite damage, mold, etcProblematic Contractors - Contractors that want to increase the bid midway through the job, fail to pay their employees, don’t show up when scheduled, fail to consistently clean, low or no skill, do poor work, fail to carry proper insurance, do not use agreed upon materials and/or finishes, use the “you can’t see it from my house” methodology, dress and/or act not in accordance with accepted job site standards, live or sleep at the job site, steal materials, supplies, and/or tools, attempt to undermine my relationship with my real estate team including agents, investors, other contractors, clients or potential clients, places lien or sues, dies or is seriously injured during project, experiences major life event that prevents or hinders their ability to continue, contractor or their employee dies or is seriously injured on the property, gets OSHA or other governing body violation(s)Code Violations - Red flagged for failing to obtain proper building and/or work permits prior to beginning project, overgrown vegetation, etcProblems Specific to Rental Properties:Tenant does not pay rent or pays lateTenant does not pay utilities/trash serviceTenant causes damage to propertyTenant does not take care of maintenance and/or cleaning of propertyTenant smokes or has pets when these things are not allowedTenant makes unauthorized changes to the property, ie painting walls, removing landscaping.Tenant allows others to move in without adding them to the leaseTenant misused the property, ie drug lab, melting plastic in the oven, spray paint graffiti on shed, parks in unauthorized zones such as the grassSomeone injures themself while on propertyHouse fire, floods, other natural disasterMajor maintenance issues such as roof replacement, appliance malfunction, plumbing leak, etcTenant violates city code, ie noise ordinances, trash and debris in yard, etcUnavoidable costs such as normal wear and tear include failing appliances, scratched/scuffed wood floors, dirty paint, worn carpet, etc.After rehab:Property does not appraise and/or sell/rent for expected ARVInterest rates go higher than expectedProperty tax increaseStricter laws are put in place that prevent finance/refinanceThis is all that I could come up with.
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6 December 2018 | 8 replies
In typical franchise methodology they have a boot camp which runs a week or so.
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4 August 2021 | 44 replies
I'm now set to start cold calling, utilizing some of the scripts and techniques Brent Daniels uses with his TTP methodology.
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6 October 2022 | 22 replies
Just remember that ANY strategy/methodology has a various number of conditions with it and its all predicated on what works for you and your situation.
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8 July 2020 | 13 replies
Ie, you don't need us for that.Where we can help is to check your calculations to see if we agree with your methodology.
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12 July 2023 | 1 reply
Today’s Mortgagee Letter includes page revisions to the MAP Guide to reflect the new $120 million threshold and the annual review methodology.
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23 November 2017 | 3 replies
More often you will hear of Market CAP rates which is just an average of CAP rates for recent transactions which may, or may not, have been calculated with the same methodology.
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9 August 2023 | 15 replies
If so, does anyone have a good methodology that would work?
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8 October 2021 | 151 replies
"On grade" is the typical construction methodology that you are all used to where forms are built for the slab and poured onto the graded dirt pad, this is in contrast to "podium" where the cars park underneath in a concrete garage, and another type is high rise construction.