Robert Williams
Title company in Illinois refuse to do a double close…
1 February 2024 | 24 replies
So I have been calling around trying to get lists from title companies in Illinois (no lick as of yet) but was informed by all of them that they cannot do double closings unless the first transaction is escrowed, or they and the bank sign off.
Connor Cushing
Jumping into the St. Petersburg Market to House Hack
1 February 2024 | 4 replies
This might not sound that important as a lot of people assume you can just get what you want when you want, but when the market is heavily favoring sellers (as is likely the case coming up with the rates dropping) it becomes critical to have that competitive edge.Not to spill it all out here on the forums, but for example, a good listing agent is going to vet the buyers when they have a stack of offers.
AJ Lee
Advice for property management
31 January 2024 | 3 replies
You will have to create listings on the various platforms.You will have to find multiple vendors for repairsYou will have to have cleaners.
Brian Schlosser
Self traveler insurance
1 February 2024 | 11 replies
I use ownerrez for my listing website and ownerrez offers insurance to the guests on my behalf.
Maxwell Banton
Urgent Help Needed: Turning Around a Struggling Disney Area Investment Property
31 January 2024 | 1 reply
Considering long-term rental as a better option, I listed the property, but after three months on the market and only receiving low offers, I'm reevaluating.
Charlie Loomis
First Time RV Park Owner
1 February 2024 | 10 replies
I didn't like the idea of Campspot because they only list your property on their website and don't syndicate out to other platforms.
Zhijie Wang
Financing Approach on a large Rehab project
1 February 2024 | 2 replies
Maybe because I did all my rehab and reno in the past with cash, but the terms of hard money is high 10.9 - 12.5% with 2-2.5% origination fee, and a long list of draw fee, inspection fee, doc fee etc.Right now i have 450k cash in the bank, 250k HELOC from main property, another 200k HELOC can be opened on my fully owned GA SFH.
Jack Elliot
Recommendations For Investor Friendly Tax Pro?
30 January 2024 | 5 replies
Usually there is a great mix of individuals from mentors, investors and casual investors to contractors and wholesalers who are eager to talk shop.
Tony Pellettieri
Possible Private Lending solution to a friends HML in default? - Please Advise
31 January 2024 | 10 replies
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.