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25 July 2024 | 5 replies
It now appraised to 575K (we've only had it less than 1 year).
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29 July 2024 | 7 replies
Honestly, long term investor loans and DSCR loan rates aren't really any better than that right now.
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25 July 2024 | 2 replies
@James E.Hi James,I'm not a wholesaler... just an investor who has dealt with wholesale deals.My broad perspective is that wholesaling is a marketing job - where the wholesaler (on the surface) is trying to help a seller, but ultimately is trying to do that in a way that ends up costing the seller more money than it should have, had the seller taken more traditional means to achieve that sale.
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29 July 2024 | 4 replies
I would start off by getting several quotes.I can tell you that my regular AC guy charges 40% more than the guy I go with.
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28 July 2024 | 2 replies
However, the property I'm looking at is larger than other houses, and to make it a viable investment, I'd need to rent it out for about $2,600 per month.My concern is that anyone renting this property could instead take out a mortgage on the same house, with monthly payments exceeding $2,000.
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29 July 2024 | 3 replies
Speak to your lender/broker for a closing costs estimate, which will be much more accurate than a percentage range.
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29 July 2024 | 4 replies
Much more accurate & protective than a general number.
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25 July 2024 | 21 replies
Also, I would plan to self manage and from looking on their site I believe if you reside more than 20 miles away you need to have a representative who is local.
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30 July 2024 | 11 replies
My advice for you (and my future self) so far is:- be very detailed about underwriting your deal- add at least 30% to what you think your rehab will cost (even if this figure came from a GC)- have a really detailed design concept before work starts (including fixtures/trim/color scheme/etc)- check with your city/township's building department and see what permits you need up front- have more than one exit strategy- add a few weeks/months to your projected timeline- purchase cash if at all possible- build relationships, take notes, and learn lessons along the way- have funGood luck!
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30 July 2024 | 12 replies
You will learn more at a meetup than in books and podcasts, although those are great starters.