6 August 2024 | 0 replies
Anything helps, per this example we could say:A single family home that is not builder grade but not luxury so in the middle being 1,600 sqft, 3 bed, 2 bath.Also a:duplex that is 2000sqft vertical build that is identicle layout on floor 1 and 2. each unit would be 1000 sqft and 2 bed, 1 bath.To note, the loan on property 3 is a DSCR loan because there is not 2 years of stable income from me because I am still in college.If there is anymore info that could be needed please let me know.
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6 August 2024 | 9 replies
Being flexible on the location and the income strategy you want to use will help make that process quicker.
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6 August 2024 | 6 replies
This helps set the right expectations and build trust.
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7 August 2024 | 1 reply
This is never accomplished in hard money loans and some may feel this adds more risk to the lender not having interest paid as you go, I argue that not having to come up with that monthly interest payment reduces the amount of capital needed for that project total and there by reduces the loan to value needed which helps both parties.
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1 August 2024 | 7 replies
It has been in the top 10 places to invest for year, but there are plenty of neighborhoods that still need work.
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7 August 2024 | 9 replies
The intent is the sponsor needs to know enough about investor to feel comfortable the investor has the financial knowledge and acumen to properly evaluate the potential risks and benefits of any investment and the financial stability to invest capital for a 5 to 7 year period.Topics of discussion with sponsor would be:Income, credit, job stability, prior investment experience either with real estate or other asset types, education level, occupation and profession, amount of savings or funds in retirement accounts.Hope this helps.
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7 August 2024 | 22 replies
If you need contacts for any vendors let me know I'm happy to help
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7 August 2024 | 0 replies
This one property we landed with a hard money loan and only $10k out of pocket will soon be a paid off $260k asset cash flowing $2,000/mo with which we will use to help pay-off a $500k 30 yr loan..in 8 years.
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7 August 2024 | 73 replies
This is actually happening in many "Up and Coming" neighborhoods in Philly.
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6 August 2024 | 5 replies
I am not too far away in Charlotte, happy to connect with you and help where I can.