Ilan Cohen
How Best to Connect with Land Developers in Atlanta?
29 May 2024 | 9 replies
Any specific networking events, forums, or groups within BP or outside it that you have found valuable?
Tashanique Jones
2nd Property after Primary Home
29 May 2024 | 2 replies
I planned to develop another home in the back half but a contractor inquired about renting the lot for their construction trailer so I’m pausing my development.
Claudia Becerra
Do you recommend Foremost insurance?
29 May 2024 | 10 replies
You should have a lot of options if it's a building that's been updated etc.Farmers itself does some weird things with their deductibles and they're very specific what they want right now.Let me know if I can help.
Yonat Piva
First SFR almost ready in Milwaukee and hoping for more REI in future
29 May 2024 | 4 replies
The new mortgage on the new $340k duplex home which is an FHA loan is going to be a monthly payment of $2800 and we will refi ASAP (the current rate is 6.7%) when rates go down.We have done some nice improvements on the SFR and will be refinishing the wood floors before a renter moves in (July 1) so feeling like it's a great opportunity for the right long term renter and we plan to screen prospective tenants well.We are taking a $20k HELOC on the SFR for the downpayment and plan to pay that off within 12-18 months.
Mitul Gandhi
Need help with assumable loan deal
29 May 2024 | 7 replies
Here are the details:Assumable loan balance: $750k at 2.75%List price: $950kDownpayment needed: $200k to cover the differenceMy initial plan to make this deal work included a few options:Getting a loan for the $200k difference.Bringing in a partner.Asking for seller financing.However, when I discussed these options with my agent, I hit a few roadblocks:Second Mortgage: My agent said no bank would provide a second position loan for the $200k.Seller Financing: He mentioned that 99% of sellers would reject this, though we're asking anyway.Agent's Advice: He suggested I just get a conventional loan and put 5% down for the full $950k, but I feel this defeats the purpose of leveraging the assumable loan.Given these challenges, I’m trying to figure out the best way to raise the $200k.
Olusegun Samuel Oyebode
Student Housing in Waco TX
29 May 2024 | 10 replies
Feel free to reach out if you have any more specific questions or if you feel like I can help at all.
Mason Bear
Phase 1 + what are we missing???
27 May 2024 | 9 replies
We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?
Andreas Mueller
High Interest Rates vs Gov Spending. Who will win the inflation fight?
30 May 2024 | 6 replies
And this is on top of the Government’s announced plans earlier this year to boost spending and demand for homes.
Marc Shin
STR's with pools?
30 May 2024 | 13 replies
I'm in Orlando and we have dozens of communities that are specifically built to be STR and every single family home comes with a pool and spa.
Liz Lynn
Acres & Trailers
29 May 2024 | 9 replies
To view this, you go to the county tax assessor’s website and you can search for the specific property.