Mike Dawson
Loan suggestions on 26 unit?
Hi. I'm looking at a 26 unit motel in a tertiary market. Current financials(according to the P&L) show a little over 35k NOI. Converting to an extended stay, that NOI would be closer to 76k, not including debt ...
Kedian Jimenez
How to fund a deal with a mortgage already
Hey there bigger pockets!Hope all is well! Just want to come on here and air out some of the challenges my team is facing and wondering what everyone else did when they ran into something like this. We currently have ...
Kevin Reinell
Lender not allowing construction loan extension
I’ve been working on converting a single family to a multi using a construction loan. Lender has extended the loan twice already penalty free of any fees. Now we’re right at the finish line with about two months of wo...
Brad Kellerman
Note coming up on end of term and unable to pay
Last year I loaned a local investor money for a rehab and flip of a small apartment complex. The plan was for it to be a quick project but COVID and other circumstances delayed the project. We are coming up on the not...
Chris Brall
Completely remodeled 3/2 looking for financing
Hi community,Need help I own a property that I completely remodeled into a 3 bedroom 2 bath that’s 90 % complete. I took out a remodel loan from ground floor. I have extended my loan with them but because of coronavir...
Randell Curry
Bank may not renew loan. What now?
House is paid for but a interest-only loan was taken out against it. The house is in bad shape and the responsible party is worried it wont be renewed. Any ideas?
Glenn N.
colorado Deed of Trust and Promissory Notes ?
Is anyone familiar with The Deed of Trust and the Promissory Note in Colorado? I am trying to find out if these are valid after they reach the due date of the loan ( hard money loan) Are they due on this day or is the...
Matt Rothwell
No financing contingency?
I went to make an offer last night, and since I'm wanting to use a 203k loan, I knew it would be a pain in the ass. I asked for a financing contingency as part of my offer, but the real estate agent said they don't d...
Ted Harris
Will Congress Extend First Time Home Buyer Tax Credit?
The $8k first-time-home-buyer-tax-credit deadline is fast approaching (Nov 30th).... will Congress extend the credit as to not endanger the fragile beginnings of a housing recovery? Can the federal budget handle bill...
Linda L.
Provide Transactional Funding
A-Seller, B-Wholesaler, C-End buyer
When you provide transactional funding to B as a lender, what are the things that you need to watch out for?
C provides non refundable deposit. Is there a % to the fu...