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18 December 2024 | 13 replies
If she doesn't pay the rent in Jan, start by following your local rules for non-payment of rent (normally a 10 day notice).
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19 December 2024 | 13 replies
I had a similar off-season challenge and decided to allow pets ( with restrictions and clear house rules) and I gave a 30% discount to try & attract snowbirds ( I’m in FL) - my calendar filled up for a few months with a few pet owner bookings and 2 separate 45 night bookings, did all this on pricelabs & airbnb -best of luck !
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7 December 2024 | 14 replies
Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab.
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16 December 2024 | 4 replies
Good thing is they don't have rules about the interior remodeling (except the regular county permitting process).
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
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16 December 2024 | 19 replies
Quick google search on Texas rules around entering YOUR rental property: "In Texas, landlords are required to give tenants reasonable notice before entering their rental property for an inspection, but the law doesn't specify an exact timeframe. 24-48 hr. notice is generally considered appropriate.
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13 December 2024 | 7 replies
For tax purposes, it’s about whether you pass the 750-hour rule, the 50% rule, and meet the material participation requirements.
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10 December 2024 | 26 replies
Unless the guru is giving fairly strong assurances they are going to bring investors into deals for you, the rest of raising capital is fairly straightforward (but not easy).
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15 December 2024 | 59 replies
So that rules out areas like City Heights / Skyline / etc.4) Parking - make sure you scope out the parking situation before you buy.
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12 December 2024 | 5 replies
Asking in the correct forum will get a better response.Read the RULES!