When you're bleeding hard money daily, waiting 30 days for wires because a lender's underwriting is slow costs you way more than 1% in interest.My advice -- get two to three lenders qualified before you need them.

Whether that makes it a smart buy or a slow bleed depends on your risk tolerance and how much you trust SoCal appreciation.The property is a 3/2 in the Artesia Pilar neighborhood of Santa Ana (92703), listed at $775K.

A facility can be 90% full and still bleeding money if half the tenants are 60+ days delinict or paying rates from 2018.

Determine bearing capacity, shrink/swell potential, and compaction requirementsRun percolation tests if septic is planned.Check for expansive clays, rock outcrops, high water table, or contaminationGet slope stability analysis and cut/fill volume estimatesThings can be missed – I once did 12 borings in a 3-acre site yet still somehow missed a buried passenger train car used to fill the site in the 1940’s.  

Right now the numbers don't look super promising but this is more of an equity play so I stop bleeding money in rent.

Some of the outskirt towns may bleed into neighboring counties.We are driving distance to NYC, Philly, and the shore, with an international airport and major warehouses, job and population growth, several colleges and universities, hiking and trails, waterways, museums, a booming healthcare sector, rising property values, diverse industries (both blue and white collar), still thriving malls, plenty of commerce, and ongoing redevelopment and development throughout.

My HML isn't a huge issue for timing as it's a 12 month loan, however bleeding interest monthly is an issue.

Hey BP fam,I see a lot of new investors rush to fill a unit just to stop the "bleeding" of a vacancy.

Hey BP fam,I see a lot of new investors rush to fill a unit just to stop the "bleeding" of a vacancy.

Give the tenant written notice and an opportunity to cure if you want to be conservative.For LVP:Light surface scratching is wear.Gouges, deep scratches, swelling from moisture, or plank damage is damage.For walls:Minor nail holes and light scuffs are wear.Large holes, heavy marking, or patchwork is damage.Make deductions based on actual invoices, not estimates.