Steven Le
New Member from San Jose (CA)
9 March 2020 | 2 replies
A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/blog/The site has quite a few tools that can be helpful for new members.
Eli Quick
How to get Funding no job no credit ...
11 March 2020 | 4 replies
You can always look at a portfolio loan product that is more asset based they will only look at the income of the property itself.
Jonathan Newsome
"Investors" walking property, what's your take on it?
10 March 2020 | 34 replies
If that's not you then I would suggest that overkilling the presentation on a used product, you may be actually trying to pull a "slight of photo" move to draw attention away from something undesirable.
Andrew Gonzalez
Finding Comps and Estimating ARV
9 March 2020 | 3 replies
I find myself sourcing info from multiple websites (Zillow, Redfin, Realtor.com, Trulia) but do not have a good direction/process to get to my final product of a well thought out ARV.Thanks for your help as always,Andrew
Maria Crenshaw
Am I scaring away potential tenants?
12 March 2020 | 30 replies
Qualification StandardsApplicants must meet minimum screening standards to be considered: Applicant must have current photo identification and a valid social security number. Applicant's monthly household income must exceed three times the rent.
Sochima Eze
Cash out question for you all
10 March 2020 | 6 replies
I use both as a RE investor between commercial and residential as both can be used on 1-4 unit properties (non owner/investment occupancy).The pro's of commercial/portfolio financing from local credit unions and community banks are that you can:- talk to a local banker/lender who is interested in building a relationship with you over time and is flexible to make a loan as long as its financially prudent and you show a track record- ability to build a track record with- less documentation scrutiny than a fannie/freddie conventional loan which is more ridged because it needs to be sold to the secondary market so all boxes must be checked to do so (otherwise the loan is unsellable or undeliverable)- is cashflow based via debt coverage ratio or DCR method of qualification (Net operating income / debt service) - can fund to LLC's, entities, and businesses with personal guarantee (PG) usually- can do unique loans like cross collateral or blanket notes across an entire portfolio, can do rehab/construction + permanent financing into one (one time close products), can do soft liens and releasable upon progress on your projects so you can leverage equity with temporarily encumbrances, unique disbursements on credit facilities,etc Hope that helped compare the cash out options.
Eli M.
Coronavirus and Real Estate
23 March 2020 | 14 replies
I guess my point is - I think a lot of businesses are prepared for an economic slowdown, but who is prepared for a complete stop of all production?
Paul Slawski
Signed contract but seller is ghosting me
9 March 2020 | 3 replies
However, you are being placed in a difficult position and the contract is valid so you just want to close the deal.
Steven Winfield
[Calc Review] Help me analyze this deal
14 March 2020 | 2 replies
There's power in knowledge.As far as your analysis:Closing costs will likely be 2X this on a commercial property.I'd plan for more in initial repairs, especially if the last unit isn't finished.Your mortgage expectations aren't in line with most commercial products.
Iyana Williams
Withholding Security Deposit or itemized list
9 March 2020 | 2 replies
In the state of North Carolina can a tenant sue landlord for not notifying tenant with proper documentation w/valid reasoning for withholding deposit in a certain period of time?