26 September 2022 | 0 replies
Bought a house and aiming to convert legacy unpermitted structure into legal structure.
29 September 2022 | 14 replies
One of the largest being the liquidity through that economic base, or to simply say the market of potential sellers being in positions of ample financial positions, through multiple measures, creating a low reward high risk environment to engage in a sale, plus no mechanisms to force sale actions.
28 September 2022 | 0 replies
I would suggest aiming for a house for less than $200,000 and seeing what type of properties you find in the area.
3 October 2022 | 13 replies
You may find that you need to update this calendar manually often to ensure it's up to date and you're avoiding double booking (again, a PMS automates this process and my others for you..but there are costs associated).You may want to start branching out in a relatively measured way.
2 October 2022 | 0 replies
adopted from a twitter threadOne of the most important numbers to determine your✅Eligibility✅Rates✅Terms✅Pointson a loan for your investment property is your qualifying credit score (or FICO)"FICO" itself stands for "Fair Isaac Corporation" but is commonly used just as a shorthand for "credit score," a measure of your creditworthiness (how reliable you are for paying back debt).There are three main credit bureaus "Equifax, Experian, and TransUnion" and lenders typically use the median (the middle number) score to qualify you.NOTE: not many people are aware, but the credit score your mortgage lender uses is different from your consumer scoreThis score is based on general credit but more weighted toward your credit history on mortgage-related debt.The 5 main factors are:✅Payment History✅Amounts You Owe✅Length of Your Credit History✅New Credit You Apply For✅Types of Credit You Usehttps://myhome.freddiemac.com/blog/notable/20210831-factors-credit-scoreLenders will typically have different credit score "buckets" as a big factor in the interest rate you qualify for, typically something like "660-680," "681-700", "701-720" etcIt varies, but each difference in bucket can have a large effect on your rate, something like 10-25 bpsIt may not be truly logical that FICO should have such a big effect on interest rates on mortgage loans on investment properties but that is the current reality!
4 October 2022 | 2 replies
If you're aiming for a BRRRR you shouldn't burn all your cash for the DP.
24 October 2022 | 3 replies
Just from my experience, I would aim for automation over outsourcing.
13 October 2022 | 12 replies
I always bring my tape measure and a clip board to write down exactly what needs to be done and how much area is being covered.
28 September 2022 | 10 replies
After our inspection it was recommended that we get a structural engineer to measure the settlement of the house.
24 September 2022 | 12 replies
If you spend any measurable amount of time browsing the BP forums you have probably come across a thread or two that was started by a new investor who's having a heck of a time getting a Realtor to work with them in an out of state market.