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10 January 2025 | 6 replies
I am also a licensed EMT, and would love to provide housing for travel nurses, contractors, etc. in that realm since I can relate to them in previous jobs that I've had.I'm looking to invest in these states preferably: Georgia (1st choice - preferably near or south of ATL or in/near Savannah), Alabama, South or North Carolina, and Florida.
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9 January 2025 | 4 replies
Quote from @Jay Fayz: Hello everyone,I've recently been exploring real estate as a potential career path and I'm looking for advice on the best entry-level job to gain experience and knowledge.
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10 January 2025 | 4 replies
But as said above it is not an easy job and the salaries are not great working for someone else.
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20 January 2025 | 14 replies
I have no w2 job, a lot of toys (need to get a plane), can do what I want, can assist my son to find his way in life (he is leading his 2nd rehab) and if I wanted I have generational wealth (I have given away a lot money the last few years).
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8 January 2025 | 10 replies
You are working a demanding corporate job but also want to build rentals on the side.
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8 January 2025 | 8 replies
If you plan to resell, I think it's wise to discuss with seller in advance and that way the lien on the property can be transferred to second buyer, but you can continue to make payments at the former schedule etc.
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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2 January 2025 | 10 replies
Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure.
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15 January 2025 | 8 replies
The onboarding was extensive, and I don’t think they do a great job of explaining that most of what they need is related to the banking side of things and actually nothing to do with setting up the software.
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7 January 2025 | 11 replies
I hold a w-2 job currently and considering transitioning to holding some properties.