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22 January 2025 | 0 replies
Here’s how to find a broker you can trust:Ask for Referrals: Reach out to fellow investors or real estate agents for recommendations.Check Credentials: Look for brokers who are licensed and members of professional organizations, such as the National Association of Mortgage Brokers (NAMB).Review Their Track Record: Ask about their experience with real estate investment loans and request client testimonials.Interview Multiple Brokers: Prepare questions about their lender network, fees, and typical loan turnaround times.Evaluate Their Communication: Choose someone who listens to your needs and provides clear, honest advice.4.
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4 February 2025 | 17 replies
Just be willing and prepared to make it a long-term investment to get you mentally and financially through any bumps in the market going forward.Good luck!
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4 February 2025 | 9 replies
As for financing, make sure to explore options for using rental income to qualify, and be prepared for a 20% down payment.
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4 February 2025 | 11 replies
As explained in this article, seller financing works best if you understand the needs of the seller.https://www.biggerpockets.com/blog/seller-financingReally dig into this topic and ensure you understand it and are prepared to use it.
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24 January 2025 | 6 replies
It seems like the perfect place, BiggerPockets, for finding people who are like-minded, asking them questions, and learning how to become a future investor.I believe that no matter how unforgiving the market may seem, the right tools, knowledge, and preparation can help minimize risk and create opportunities.
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29 January 2025 | 25 replies
The long hours and dedication will pay off as you learn the ropes and prepare for your first investment.
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24 January 2025 | 3 replies
Why ask: Knowing the mentor's expectations will help you prepare for what’s required in terms of effort, communication, and engagement in the program.Asking these questions will ensure you make an informed decision about whether the mentorship program is a good fit for you and your goals.
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28 January 2025 | 20 replies
Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?
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3 February 2025 | 27 replies
It gives you insight into what managing rentals actually entails, and you’ll have a better understanding of what you need from a property manager later on.