Real Estate Market. Thoughts?

[Irving]

As for financing a res/comm real estate, I give huge props to people who flip residential/commercial real estate for a living. They have to go through that long and difficult financing process every freaking month.

You don't use regular financing when flipping houses or regularly buying property.

[MrPrena]

You don't use regular financing when flipping houses or regularly buying property.

Do you set up S or LLC to finance?

[Gman]

I just don't know how people afford $800k+ homes at $250k/yr all combined salary.

They move here from California with a chunk of equity from their insanely priced housing.

[Irving]

Do you set up S or LLC to finance?

We did an LLC, but the financing is private so it's smooth.

[ChunkyMonkey]

Well, I am guilty of buying one car which is kinda out of my means. Can I pay em off tomorrow? yes, but it is still out of our means. Financing a car was far easier than financing a house. With that said, now I see sub-prime loans are getting generated in automotive financing industries slowly.

As for financing a res/comm real estate, I give huge props to people who flip residential/commercial real estate for a living. They have to go through that long and difficult financing process every freaking month.

Most go through hard money or simply have cash to do it. Hard money doesn't even check credit. It's 7 days contract to closing turn around.




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[ChunkyMonkey]

For those who wants to get into commercial units (minimum 40) or portfolio, I do hard money funding. Many offsetting factors.. Our group will do $2-20 m. First lien 2-3 year balloon. Shameless plug


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[Dave_L]

Just wanted to update this thread. We put our house on the market Friday, with showing starting on Saturday. Had a cash offer on Sunday, $10,000 over asking price. We had 10 showings in 36 hours. I posted in the "wish us luck" thread but figured I'd update this one also. The market is crazy.

[Firehaus]

Congrats! Are you staying in Castle Rock?


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[Dave_L]

Yeah, we're going over to the Terrain.

[Firehaus]

Thats where I am currently. Trying to decide if I'll stay in the neighborhood.


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