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10 March 2020 | 15 replies
@Randolph BrownThe LTV and reserves are based on the individual lender.
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2 March 2020 | 3 replies
It would also allow you to potentially buyout other partners (you never know what life events may occur) with potentially not disturbing the debt, this could be more tricky if you’re all holding title individually.
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3 March 2020 | 2 replies
Cash with partners (/parents :-)Initially applied for delayed financing, but fell through since the funds used to purchase were from a partnership, and I applied for the loan in my individual name (with plans to ultimately deed the property to our partnership's LLC).
2 March 2020 | 1 reply
You may want to even push that to 20% since this is a low-value property, there may be additional costs due to the 18 acres, and with separate buildings, you won't see as many efficiencies of scale.Management will likely be 10-12%.If the water/sewer is town, do the tenants pay that individually?
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2 March 2020 | 8 replies
You can go to local REI meetups or look on the BP boards for recommendations from individuals with a good deal more experience than I have.
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2 March 2020 | 1 reply
You not only need to be trustworthy and have a solid reputation but you need to show competeance in your field.That being said you can meet lenders and investors at REI meetups and groups, auctions, talking to realtors, title companies, property management combines, craigslist calling for rent adds, other investors, search real estate transactions in your area and look for multiple cash closings by one individual, entity or address of either.
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3 March 2020 | 14 replies
Is it deeded to an LLC that your parents own with the individual 50/50?
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4 March 2020 | 9 replies
I would not do this eviction as a self-represented individual.
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3 March 2020 | 11 replies
I'm looking to connect with agents, attorneys, property managers and contractors local to north central Mass and of course, other like minded individuals in the greater BP community.
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2 March 2020 | 2 replies
Lenders - how can one use combined equity in multiple properties as a down payment without selling or refinancing the individual properties?