LOLI really don't know man, I think I am at my wits end.

Hello BP community, this is my first post. I'm just starting out still looking for my first project. Recently came across a Detroit land bank home that was in pretty good shape in a decent neighborhood, needed about 2...

I know from experience that contractors disappear, tenants stop paying rent (good luck if you're in a blue state..sold everything in NY for this reason), interest rates go up as we've witnessed over the last couple of years, anomalies happen (Covid literally effed a lot of us investors).Not to be discouraging, but i've been through all of these and if you can get through it, great.

That's how I'm able to comply with the CSLB's requirements.just like another poster said, tripping over nickels to pick up pennies.to wit: its not legal to do a time n materials contract on residential properties.

You'r right, a 30y term is going to require a future sale to have a much bigger discount, so it has it's drawbacks, and it can kill the deal to begin wit.

But I was curious and up for a little wit of words.

Lenders were giving loans solely based on FICO scores - and got burned because the score models were no where near robust enough.Coming from the mortgage industry and witnessing the carnage caused by the blind trust in credit scores, we've NEVER trusted scores.

Truth is you can do a handshake contract with people with a witness and it is legal.

Neighborhoods just outside of Charlotte are witnessing similar appreciation % to Charlotte but achieving higher rent %.

i agree ,for most it is the way they spend.i have witness over the years too.sure their are some that are experiencing problems with paying their rent.but most tenants i have to help with payment plans are because the government is behind the 8 ball.for alot of them are mostly having problem getting their unemployment checks and starting the process.took one tenant 3 weeks to just get ahold of a person to activate their claim.this is what the government should be working on.but their are some that just blow you off about payment plans or workouts.them are the ones we should be allowed to evict.have 2 tenants set to receive gov help for full rent,they were just to lazy to go the appt with gov person.lucky was able to evict just intime.my vent is if gov wants to help,get nancy out the beauty salon and back to washington for housing vouchers.and the worst she blames the beauty salon owner.she only wants to open her business like most of the country.you think these gov officials would realize why people are leaving calf before its to late to save their state.