All Forum Posts by: Sri Ram

It was a 20 year loan amortized for 20 years.  It ballooned in 15 years which was this year. Now the bank wants does not want to extend the loan. The property owner is talking to other note buyer to get it funded by somebody for the next 5 years.

thanks for the quick reply.I had offered for 145k and they came back with 165k.

I am looking to purchase a note(first time) where the UPB (unpaid balance) is about 45% of the value of the property. The interest rate is only 4.25% and only 5 years left to maturity on a 20 year loan. What kind of discount can I ask to buy the note. UPB is 185k. Value of the property is around 405k.

Looking for some advice

Spent 1 1/2 hours with the appraiser and explained to him all the comps and gave him the comps for 100k along with the receipts for the purchases and he comes up with 91k appraisal. 

Finally sold the Condo for 95k. Made about 9k in 9 months. 

these approaisers are too conservative for the banks.

I have done multuple 1031 exchanges. Both on personal names and LLCs.

Great work. Looks awesome. Did a similar thing in florida WPB,could not get it appraised for a condo. Have to relist for sale ? Came below 10k in contract price.

The Price for the CONDO is 107k, others are in the range of 93k to 95k.

Those condos for 93k are not rehabbed.

I am trying to sell a condo and I have it under contract. The appraiser is saying he cannot find comps for my contract price. I have rehabbed the condo with new kitchen and bathrooms. The highest sold in the area is 10k less then my contract price.

I am not sure what is the best way to do this.

Good posting