Lily Rodriguez
Wholesaling Formula for offer price
1 March 2024 | 8 replies
For this example we will use 70% For this formula you will need to know the following:ARV=After Repair Value ( How much will the house will sell for after making all the repairs needed)Repair Estimate - (Send me a message and I can send you a list I got from my mentorship class for ball park estimates based on square footage and depending if you need cosmetic repairs, avarage repairs or Extreme repairs)Your Assigment FeeARVx.70 - Repairs - Your Assignment FEE = Max OfferExample$200,000 x .70 = $140,000 - $30,000 (repairs) - $10,000 (your profit) = $100,000 (offer)Your potential profit is $10,000 I hope this formula helps you make offers that will make sense for all involved in the transaction.Happy Wholesaling,Lily Rodriguez - Investor friendly Broker
Matthew Rolf
New RE Platform - "Roam'
1 March 2024 | 3 replies
I can see why some lenders wouldn't like it since it would cut them out of a deal, but I would guess this is a very niche market based on downpayment size to make up the difference.
Chris Good
Adding Value and Controlling Costs
1 March 2024 | 5 replies
If the property has publicly serviced sewer, which is most times billed based on the number of gallons of water used, by using sub meters, we now have the information we need to pass along the sewage charges.
Mrinal A.
Asset protection setup prior to first investment
1 March 2024 | 5 replies
I am not endorsing him but for thirty bucks and a quick read do that before you shell out tens of thousands for an asset protection advisor or some other fear based sales pitch.
Jaya Laun
First Time Rental Investor in Pittsburgh - what am I missing?
1 March 2024 | 6 replies
Think of it from the PM's perspective: if you were them, would you deal with the significant headaches of a C or D area (non-paying tenants, trashed properties, crime, police calls, etc.) for a 10% cut of a single property (probably just a few hundred bucks a month) ...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.
Bonnie Low
Has anyone used Seabury Investments LLC for funding?
3 March 2024 | 53 replies
Wish it were true, but every lender bases their rates off of Sofi or 10 yr Treasury, etc.
Kirk Roberts
Selling property tax implications
29 February 2024 | 8 replies
They should have been telling you that a fix n flip where your intent was primarily to resell would not qualify for a 1031 exchange.
Garrett Shackelford
Owner Financing Family Farm
1 March 2024 | 2 replies
She can charge 0% interest but would still be responsible for taxes based on the government AFR rate which is around 4-5%So at $400k she would be responsible for $16-20k in taxesYou can have a title company originate the note and mortgageWe do this stuff all day long as investors (not attorneys) so happy to help
Ashley Wilson
The Challenge to Multifamily Evaluations
29 February 2024 | 6 replies
This perspective is quite common in the MF sector, especially where sales comparisons are largely based on the asset's condition and financial performance (NOI which leads to a cap rate).When comparing two properties with similar capital expenditure needs, the industry standard is to evaluate them based on a cap rate.
Michael Alexander
I'm not saying get rid of Airbnb, just add more options
29 February 2024 | 6 replies
There are no communication restrictions, either - guests can contact you however they want.