Choon Yee Dee
Max Allowable Offer for Fix and Flip
What’s up everyone!? I have a question regarding max allowable offer.
(ARV x 0.70) - rehab cost = max allowable offer
Example: ($900,000 x 0.70) - $100,000 = $530,000.
My question is, why do I have to subtract the ...
Allende Hernandez
Does this look like a good first deal?
Hello guys,I just got a call from an owner of a pre-foreclosure property I targeted in my direct mail campaign. He owns a home in Orlando, FL and owes 140K to the bank including 27K in pack payments. The bank is willi...
Ryan Lee
verifying if a land is zoned for sfh?
I have a client who wants to sell 10 lots he had since 1980 or somewhere around there. I found all the records online but it doesn't show the land has a code for sfh, or any codes at all.
I have tried emailing the to...
Jacob Lammott
RSO Owner move in Eviction in LA
I am exploring options for purchasing a multi-unit property with a SFH (2b, 1ba, with a detached garage) and 2 ADU units (1- 2b/1ba and 1- 1b/1ba) in Los Angeles. The SFH and the 1b/1ba ADU are currently occupied by t...
Jose Guevarra
Memphis Seller Finance
I have a potential seller finance deal in Memphis, TN zipcode 38128. The home has already been rehabbed and rent ready. I'm assuming 7% of rent as property management fee. That seem reasonable?ARV: $68,000Purchase P...
Aleksandra U.
Advice on potential investment needed
Hello,Looking to purchase a condo for investment. My last offer was $62500 and I'm paying closing costs (seller didn't not agree to cover any of it). Seller wants $65000. I still consider it a good deal even with purc...
Mike Healey
Income Requirements for Tenant Criteria
I am in the process of going through the tenant application/screening process for the first time. Currently I'm writing up some selection criteria and came across a question on income requirements. I went with the sta...
Account Closed
Tired of being a landlord; Tenants shown interest to buy
Hi everyone! I am seriously considering selling my property. Even thought I am thankful to have had the experience my heart is not fully into being a landlord. My property currently has tenants that do not pay on ...
Rochelle Gerber
Struggling to find decent hard money
Hi everyone! Came back so excited from BPCON to really get going w/BRRRR and fix/flip. Finding it really hard to get decent hard money. Presenting average deals of : Puchase price 350-400,000. ARV 550-600,000. Hard mo...
Jonathan Riordan
Origination fees 2.5%?
I am under contract on a house and my lender sent over the closing cost estimations. It looks like they are charging an origination fee of 2.5%. This seems high compared to what I have seen in the past. What have y'al...