Glenn English
Single Family Flip lessons learned.
13 November 2021 | 2 replies
Hopefully one day (sooner than later) I can take that next step knowing what not to do again.
Ummad Farooq
Getting same property appraised twice
14 November 2021 | 8 replies
I did not try to take cash out until a about a year later.
Chris Wilson
DTI question on a cash out
12 November 2021 | 8 replies
And because, on the purchase side, there's an inherent risk that you could preapprove someone using asset depletion when their Tesla stock is at $700, then 2 months later they go into contract and it's at $550, and boom you don't qualify, and this will be viewed as the fault of the lender or loan originator (hint hint: If I knew what Tesla stock was going to do 2 months from now, I wouldn't need to do mortgages!).
Charlie Massey
Do you trust an agent to find your deals?
15 November 2021 | 11 replies
I used an agent on our first deal, 8 years later I am sharing the knowledge with others.
DongHui Patel
Cap Rates at 3%, Interest Rates at 0% (Libor), worth investing?
27 November 2021 | 22 replies
If you were to look at our income a year later and recalculate a yield on cost it would offer a really nice spread over our mortgage interest rate.Fast forward to now--we are actually renting units for around $1,600 (that's not a typo)--which is a 70% increase and we've only owned the property for 12 months.
Hassan O.
example of multifamily underwriting with loan assumption & refi
12 November 2021 | 0 replies
I'm trying to evaluate a multifamily opportunity where an assumption is possible for acquisition with later refi and later resale.
Sean Payne
How to create competitive SFH offer in current market?
16 November 2021 | 6 replies
It passed no problem and the appraisal was done twice as fast as a normal appraisal in our market.Write a letter to the sellers with your offers too and sooner or later you will find someone who wants to sell to a veteran even if it means $5-10k less than another offer.Best of luck and thank you for your service!
Rocco Swinney
Tenant home for repairs?
15 November 2021 | 14 replies
He was not worried that one of these contract workers would steal something from the tenant; he just wanted it covered that a tenant did not later claim that either something was missing or an inappropriate "action" had taken place.I learned from this and if a repair is needed inside an occupied rental property I always work it out to meet the repair person at the property.
Jesse Richardson
Group think is bad think
1 December 2021 | 5 replies
Yes, most of my books come from the recommendations form guests on the BP podcasts and I've never been let down yet.Anyway, there's a passage, "Whenever a group reached a decision while sober, they later reconsidered it while intoxicated".What does everyone think about that?
Ryan Daniel Palmer
Tenant consistently late on late on rent, no sec deposit
15 December 2021 | 30 replies
They applied for three months of future rent and were approved, then they received a notice two weeks later that they could apply again.