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10 March 2020 | 7 replies
The people I have talked to about financing this deal tell me they won't do multiplex on a single-family or they will make me get two loans for the single-family and triplex which drive up the cost of the down payment, so I am interviewing more financing institutions and/or specialists but advice here would be welcome.The plan is for my business partner to house hack one of the units, while working on the ground to fix up the property, while I work on the business side, playing to our strengths.My notes for this property:Pensacola Fl 32507 – $349,900 - 1938On the market for a total of 268 days – estimated $1667 mortgage Single-family (1200 sqft) home with 3 unit in triplex (upstairs-1150 per month - 1422 sqft) bottom 2 units (ea. $800.00 per month-600 sqft) possible AirBnB would produce more income per month.1150+800+800=2750Expenses: Taxes $150, Insurance $100, flood insurance: Vacancy $100, Repairs $100, Cap Ex $100, Mortgage $1667 Utilities: Renters responsibility, Total $2217 per month Cash Flow= $533 per monthCash on Cash return: need total repair costsPros:Great neighborhoodTurnkeys come with propertiesNo major issues to the home found in the last inspection.Found no liens or back taxesConcerns: 1.
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13 March 2020 | 12 replies
If you happen to own an Xbox, you can play House Flipper for $29.99.
15 March 2020 | 3 replies
I’m a Canadian who plays semi pro hockey In the US from October to April-ish.
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11 March 2020 | 3 replies
lots of other variables in play here, but one way to potentially achieve win-win, maybe....
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11 March 2020 | 5 replies
Stokes Jr 2 things... one, they know in a crisis situation, you're more likely to keep a roof over your own head paid than an investment, and second, because a majority of the mortgage industry plays to the tune of Fannie and Freddie, which would rather show gains in new home ownership over new millionaires made.
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12 March 2020 | 16 replies
HML will want to be paid though so creative financing would only work with their blessing.. if you refi the LO rent to own etc comes into play.. but most HML are just going to say drop the price and pay us off sorry it did not work
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20 March 2020 | 3 replies
Looks like I played this correctly.
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10 March 2020 | 2 replies
@Mia Trasolini - most times when investing in a project investors will want that money recouped in a 3-5 year period (depending on criteria and also the cap rate plays a factor if multi-family).
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20 April 2020 | 4 replies
Just trying to level the playing field.
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9 April 2020 | 11 replies
I like reposition plays for myself in strong markets.