Tony Pellettieri
New Construction HML in Foreclosure Proceedings - Needs Help
1 February 2024 | 1 reply
Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000 Lot 2: $307,000 Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value- $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation- $2,538 - Real Estate Transfer Taxes- $1,500 - Settlement Costs Paid at Closing______________________________________________ $234,212- $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcI've spoken to a few HM Lenders and ran rough numbers by them.
Shannon Dennis
401k withdrawal to replace HML
1 February 2024 | 2 replies
Moving funds to an IRA will not help because you can’t take a loan from an IRA.I would look at other lending options to bridge the gap in time as well to avoid potential delays in your operating plans.
Alec Jacobs
Looking to learn and network in Beaver County
1 February 2024 | 9 replies
You can check out details on their Facebook page if you are interested in attending and potentially networking.
Garrett Kroll
Anyone investing in boutique hotels?
1 February 2024 | 15 replies
@Michael Baum one of the big draws for me is actually the potential security from STR regulation.
Violet Lisa
Applicant did not disclose their emotional dog
29 January 2024 | 40 replies
I consider 100% of them to be a scam.
Grant T.
Multi-family/ Apartment Investing
1 February 2024 | 32 replies
Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati.
Nicole Blankenship
Newbie Investor Choosing a Market
2 February 2024 | 52 replies
If you would like a recommendation on a lender, or would like to speak about potential properties in Michigan, I would be happy to help.
AJ Wong
Association of Realtor and VACASA Top 10 Places to buy a vacation rental in 2023
1 February 2024 | 9 replies
I think Panama City beach has a better cashflow potential and growth potential than Navarre.
Zack Tremere
Buffalo RE Investors
1 February 2024 | 11 replies
I live on the Canadian side of Niagara but interested in investing in Buffalo and hoping to learn more about the market there and potentially find a JV partner.
Hyeseong Park
When receiving payments after selling houses
1 February 2024 | 4 replies
And if it is all business, then you should have an LLC credit card that is used for fuel, tires, oil changes, car washes, etc.At the end of the day, you need to talk to a CPA and potentially an attorney.