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23 October 2024 | 3 replies
Every investor is different on what they want covered, so really you just need a good agent who will discuss the coverages with you when you set up the policy.
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23 October 2024 | 2 replies
It’s also a great way to leverage your investment for future projects.If you’re planning to continue with more BRRR projects, consider refining your vendor selection process to increase efficiency and cost control, and ensure your financing is set up to maximize your next deals.If you need any advice on financing strategies for future deals or optimizing STR income, I’d be happy to help!
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23 October 2024 | 7 replies
What MAY make sense is to setup a Master LLC that operates like a PMC and collects all your rents, pays all your property-related expenses, etc.The owner of each property (you, LLC, trust, IRA, ect.) would have to execute a management contract with the Master LLC, so the Master LLC could legally act on behalf of the property owner(s).Check with Account Closed read our
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23 October 2024 | 2 replies
Just be aware that this adds another layer of complexity, and you’ll want to check with both your lender and a real estate attorney to make sure everything is set up correctly.When it comes to terms, owner financing gives you a lot of flexibility:Interest rate: You want something attractive to the buyer but that compensates you for the risk of holding that second lien.Repayment schedule: You can choose a traditional 15- or 30-year schedule, or go with something shorter if you want to be paid off sooner.Balloon payment: Many owner-financed deals include a balloon payment, meaning the buyer pays off the remaining balance after a set period (usually 5-10 years).
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23 October 2024 | 10 replies
While you’re at it don't forget to set up keyword alerts for topics that interest you: http://www.biggerpockets.com/alerts Also check out The Beginner's Guide (http://www.biggerpockets.com/real-estate-investing), it is packed full of great info.
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23 October 2024 | 7 replies
You or tenant need to have an escrow account set up that pays you monthly.
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23 October 2024 | 8 replies
and even just to buy something that's already built ... just to be blunt... 30K just isn't that much to work with, if you think about needing a down payment, closing costs, and then the costs to furnish, set up, and list.
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23 October 2024 | 16 replies
Happy to dive much deeper if you would like to set up a call.
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24 October 2024 | 7 replies
The office administrator did the initial due diligence, the corporate counsel reviewed the lease, the accounts payable coordinator setup the accounts and sent the security deposit, one of the VPs signed the lease, and only after all of that occurred did I get the name and contact information of the tenant.- Now I am in their system as a Vendor/Subcontractor.
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23 October 2024 | 13 replies
There's no SEC violation as each is set up as an investment club -- properties are purchased in LLC's and investors buy in to the LLC.