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1 October 2020 | 21 replies
The rehab can be built into the loan and they handle the draws and basically walk you through working with contractors and the whole bit.
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24 August 2020 | 2 replies
Area: Colorado Springs, CO (in a nicer part of Colorado Springs that draws a lot of tourists and outdoorsy individuals)Price: Asking was $550, we bid $555 to beat out another offerConcession: After a lot of back and forth, the concession we've received is 15K off for a total price of $540Cash Flow: Excluding the major repairs, property will cash flow around $100/month (including property management) before the additonal unit and closer to $700 per month after the additional unit, conservatively.Loan Terms: 25% down, 3.5% rate 30 year loanThe CAP rate at the new price ($540K) is 5.8%, which is in line with other buildings in the area (Avg is around 6).
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22 September 2020 | 21 replies
.- Option 1 is to get 10 conventional loans, and then every loan subsequent to that move to non-conventional lenders. - Option 2 is to package my 10 conventional loans into a blanket loan or commercial loan (I still havn't been able to nail down the exact different between the 2), which would allow me to do ~10 more conventional loans.Any other options or advice that you have used would be super useful!
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28 August 2020 | 21 replies
So much of what draws travelers to urban spots are closed or restricted so not a great time for US travelers to visit US cities.
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25 August 2020 | 29 replies
Whatever you do, ensure you have a experienced real estate attorney draw up the contract so there are no mistakes We’ve actually done the opposite where we cover interior maintenance besides HVAC and the owner covers major.
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30 August 2020 | 15 replies
Permits & subsequent inspections are tough BUT they let us do all our own work.
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26 August 2020 | 7 replies
Draw out the layout, schedule subs, pick out and preorder materials, etc.
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30 January 2021 | 3 replies
I immediately found a competent specialist who helped me draw up absolutely all the documents from my former business.
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24 August 2020 | 2 replies
Their draws can be a little bit more cumbersome so some contractors do not like working with them.
27 August 2020 | 4 replies
It would require drawing a plan for the existing structure (typically $2000-3000), sending it to plan check at the city (planning, building, and fire), potentially conducting an exploratory phase where walls are opened up for inspection with the city (typically no more than $1000-2000 for opening walls and repairing them), addressing anything in the structure that is not within compliance (cost will of course depend on what’s going on with your structure), and paying for any permits (typically $1000).