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12 August 2019 | 15 replies
The typical pricing is roughly:Pre-HUD (1976 and older) around $1,0001977 to 1979 around $3,0001980 to 1990 around $5,0001991 to 2000 around $10,0002001 to 2010 around $15,0002011 to current around $20,000Those prices are based on being fully renovated and ready to go with solid stairs and skirting.Any renovations you do would need to be subtracted from these retail prices.Note that this is extremely general -- in California a $10,000 home might sell for $150,000 and in Florida a $5,000 home might sell for $50,000.
2 November 2020 | 3 replies
In addition I am looking for window replacement and don’t want to pay the overpriced retail firms.
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19 August 2019 | 7 replies
I'd look for nicer assets with lower return in areas that have good population and job growth story with a bit of hustle on finding a discount off retail with reason and chip away at your goal.
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9 August 2019 | 5 replies
And it depends on what your budget is, what your goals are, how much money you want to spend out of pocket and how much work you are interested in - in my opinion turnkey is retail pricing in today's market.One suggestion, get your financing ready - it's super important to show your commitment and be ready to move.
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12 August 2019 | 17 replies
For another 92k you have complete control, your 100k investment is safer, your business/livelihood is safer, there is a huge profitability potential upstairs.Definitely find out more about the up stairs and what can or can not be done.If you can get a loan from the bank no problem and don't intend to finance numerous other assets then seller financing is not important for you.Multiple exit strategy- Rent the upstairs as retail space, convert the upstairs to residential units, quit your business and rent the down stairs, sell the whole building.
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12 August 2019 | 6 replies
Areas that are mostly rentals are difficult to sell to retail homebuyers.
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14 August 2019 | 10 replies
Retail, move-in homes are way too expensive and this is a great way to buy smart and build equity from the start.
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9 August 2019 | 2 replies
I've done exactly one "wholesale" deal where my borrower was a retail owner occupant, honestly it was mostly for ego - to "prove" that it could be done.
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9 August 2021 | 8 replies
.), Family Trusts etc.2-Can consolidate various mortgages into ONE portfolio loan3- No mortgage Insurance 4-Will loan on BOTH Commercial Residential (5+ units) and Commercial Business (retail, office, warehouse etc)5-Loan Amounts range from $45K minimum (residential) to maximum $5M (Commercial).6-Do NOT need a job, income to apply.7-No limit on the number of mortgages you can have8-In some instances can cross collateralize property4 DISADVANTAGES of NON-QM Loans/Lenders1- 20% down payment2-Typically 2 pts lender fees or more3- Slightly higher interest rate if your credit is below 700 or the the property DSCR (debt service coverage ratio) is below 1.3.4- Show 3-6 months liquidity left over after you close on the property
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2 September 2019 | 9 replies
They shop around to numerous different banks and have access to wholesale (not retail) rates which are usually very low and competitive.