Creative RE is all about finding a way to help everyone get what they want, (for the most part).

Hello everyone, I have started marketing in my area, but thought of a concern that I am not currently prepared for...

I'm in my mid 30s and many people my age are still living paycheque to paycheque.I'm a mortgage agent in Cambridge, and id love to help you navigate the water, so at least you are prepared when the time is right.

If the property doesn't appraise in that range, I am prepared to pull cash out of my working capital to subsidize the difference.  

I bet its been great and the fact that you are being creative to post it is neat.

Theoretically let’s say someone or some entity is interested in an 18 unit for 500k. Three questions…They have a decent credit score, about 40k cash in the bank but not the 25% (125k) for a down payment. However, they...

I’ll try to keep this short. I currently rent a house and just closed on my first income property (triplex) last week. I’ll be living in one unit and renting the others out. When I notified my current landlord I’d be ...

Credit - not as important on a flip - if it inst great, be prepared to explain what happen.Income - not as important on a flip - but likley verified with taxes, paystubs, etc.Be Honest, Professional and Timely - If this is a business for you, treat it like a business.

Essentially is as follows:New Lease Fee (one month’s rent) + Expected Missed Rent + “Refresh” Cash(Refresh Cash = the amount out of pocket to prepare the property for new tenants, after tenant deposit is spent)It looks like this:(A/B)+(A*C / B)+(D/B)Where:A = New lease fee (1 month's rent) ($1,000)B = # of Months in lease (24)C = Expected # of months vacant in-between tenants (1.5)D = “Refresh” Cash ($500)In this example:($1,000/24) + ($1,000 * 1.5 / 24) + ($500/24)Which is:41.67 + 62.5 + 21 = $125    which is 13% of monthly rent in this scenarioThe equation allows me to make a judgement call in many different scenarios.

I did not drive it in preparation for this “review” so I was not able to personally gauge the atmosphere there.