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2 December 2024 | 2 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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13 December 2024 | 2 replies
This is because VA loans are tied to the borrower’s personal ability to repay and require a creditworthiness review.VA Entitlement Consideration: If you’re assuming a VA loan, the original borrower’s VA entitlement may remain tied to the loan unless you’re a veteran eligible to substitute your own entitlement.2.
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12 December 2024 | 18 replies
If you listen to David Greene, he's hearing more and more stories about syndications struggling to keep up with their promises and a lot of investors are losing money, or pouring more money into the syndication to try and save their original money.
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5 December 2024 | 25 replies
The website 51west.properties also scores low on scam advisor ("owner is using a service to hide their identity, high number of suspicious websites on the server, registrar has a high % of spammers and fraud sites, website is (very) young, website appears to be hosted by a company with a bad reputation", all according to https://www.scamadviser.com/check-website/51west.properties...)Trust your instincts.
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16 December 2024 | 5 replies
If the information is out of date is there a follow-up book you folks can recommend so I can make up for the gap of this original version?
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16 December 2024 | 7 replies
I purchased a larger Self-Storage/Office property in FL where the son's of the original owner wanted bright shiny new office building, not Dad's old junk.
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11 December 2024 | 12 replies
I mention this as I have seen some people want to sue companies because they were a sponsored affiliate on a website…Regarding the original post- expect 10-12% (I think latest I saw is avg is 11.5%) rate plus atleast one point for a 12 month loan.Bigger companies may take longer for approval and can be more flexible usually in down payment amounts.
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11 December 2024 | 2 replies
If an agent brings a client and buys the wholesale deal, their standard contract is the second contract that the original contract is being assigned to.
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17 December 2024 | 36 replies
I'm originally from KC and I love that area.