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5 June 2021 | 16 replies
What aspect of the hard money lender's agreement makes it more favorable for a bank to write a mortgage on sooner?
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3 June 2021 | 3 replies
After writing this, it's basically what Frank says.For the transient vs long term, I really think this depends on where you're located and what draw there may be.
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7 June 2021 | 2 replies
So instead of dealing with a project way under his profit range, he finds his best employee and sells it for $15k and uses it as a write off.
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3 June 2021 | 1 reply
The following write-up is a detailed analysis on the numbers, from purchase and closing costs, to rehab, to rent and cash flow, to the refinance, and finally to the sale of the property.The process of buying, rehabbing, renting, refinancing, and then repeating the process by using the refinance proceeds to purchase another property, was used here (BRRRR method).I thought it would be interesting to do a post-mortem analysis on this investment, and see how things worked out.Post Rehab Picture of the Kitchen.PurchaseOn 1/31/2020, I purchased this single family home for $77,000.The loan terms were a 30 year loan, 5% interest rate (higher rate since it was before rates began to fall, as well as from being on an investment property with a lower loan amount), and 20% down.Cash to close was $15,400 for the down payment ($77K * 20%), $3,750 in closing costs, and $350 for the inspection, for a total of $19,500.To fund the down payment, closing costs, and inspection, I used a HELOC (home equity line of credit).
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6 June 2021 | 9 replies
And, he Can’t write a conventional loan for an LLC, hence the suggestion to simply buy it in your personal name.
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6 June 2021 | 28 replies
Have someone help you write an email to Senior Inspection Coordinator that you mention to cancel the whole plan.
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4 June 2021 | 3 replies
Maybe write a letter.I think you're putting too much assumption in the fact that a previous owner is going to be helpful.
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6 June 2021 | 3 replies
They probably don’t have the records or realized “deferred maintenance” is a thing.Maybe some writing and simple math?
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8 June 2021 | 6 replies
The best way to solve this is to find an experienced MHP attorney to write a letter to the city on your behalf.