All Forum Posts by: Marylynn B.

As a horse person I want to hear it!!!

Following!!

I own 2 properties in Frostburg and it is a great place to own rental properties.  I have never had difficulty renting the properties.  I actually have them for sale.  More because I have fixed them up and I am focused on another area of new home builds.  I will second that finding contractors was difficult though.  Feel free to pm me of any questions on my experience there. 

This is funny since I have 3 student housing properties that are in the 8-10% cap rate and I was just wondering if I should post on loopnet. I do not think it is impossible and I will tell you why. Investors have to go somewhere to find deals. Granted several of my commercial deals were not on loopnet but through a broker ( who does advertise other deals on loopnet). But when you are working with student housing or multi-families, often the area or county on the MLS is not looked at by local investors. This is for a variety of reasons, often that there is not a large investor pool in highly rented areas. Just my experience and 2 cents!

Hello Everyone!! I have dealt with some pretty rough homes but always stayed away from ones with cement poured down the drains.  However, there is one I am pretty interested in.  The house has to be gutted anyway but how much are we looking at for this type of bitter homeowner destruction?  The house is around 5000 square feet.  Appreciate your input!!

It will be interesting for sure.  I spoke to one of my property managers for my student housing.  He thinks they will not be back in the Fall.  I cannot believe they wouldn't be back in the fall....right?

@Dante Pirouz my apologies for my late response.  From what I remember there was a fee for the credit application that was over 2000. I could be wrong but that was my recollection.  

@Vik P. I did not use them..yet....I have been shuffling things around...but as we grow and waiting for other properties to sell we need to find a better financing options.

That would be wonderful since I just acquired two flips! I am not seeing great deals out there in my area.  I have found them but they are not at the 2006 level.  I do not have a WSJ account so could not read the whole article, but I suspect it is very much region dependent. 

I have been really struggling with the decision if I should use CoreVest LOC or not. The underwriting fee per transaction, origination fee and exit fee are my concerns. In today's market the margins are so tight that I am really looking at the financing options carefully. I would only be using it until I refinance or sell other properties I paid cash for, so not sure their fees make sense for these transactions. However, timing in the business is everything as you all know!! I have come across some other commercial products that do not have upfront fees, but they do not have the name Corevest has-I am finding this a struggle to find the right options out there. I have heard from other investors that often they do not approve the deals-have others found this? What are some other lenders that you have used?