21 December 2024 | 18 replies
It depends a lot on your risk profile and regular income.
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20 December 2024 | 1 reply
After a few candid conversations, they realized they could negotiate slightly higher rents by offering small improvments..things like better loading dock access or upgrading the security features..turning a so-so cash flow into something much healthier.When you break down your family friend’s situation, it might help to consider these angles:Selling and redeploying capitla could open up opportunities in markets where cash flow is a bit juicier.
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19 December 2024 | 14 replies
If I require a separate EIN then I would just make regular LLCs.
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25 December 2024 | 10 replies
I acknowledged his concerns but was unable to resolve the issue.Since the tenant moved in, I have experienced escalating issues with his behavior, including:Lease Violations:Moving items without permission (furniture, safe, carpet cleaner, TV from his room to another tenant's room).Accumulating boxes in the garage, potentially exceeding the agreed-upon storage space.Installing a security camera in the common living area, which is a direct violation of the lease agreement.Failure to submit a work order for alleged issues with the smart lock, as required by the lease agreement.Behavioral Issues:Aggressive and confrontational communication.Unfounded accusations and personal attacks.Refusal to communicate through agreed-upon channels.Loud and disruptive late-night behavior (banging on the door, kicking the door) due to alleged difficulties with the smart lock, often accompanied by profanity.Harassment of my son, the designated on-site property manager, by making disparaging remarks about me and refusing to cooperate with him.Potential for Neighborhood Disruption: The tenant's late-night outbursts have the potential to disturb neighbors, although no formal complaints have been received.Unreasonable Demands: The tenant unreasonably demands advance notice of my access to the property for storage purposes, despite the prior agreement and my right to access common areas and my own storage spaces.Safety Concerns:While the tenant has not directly threatened us, his actions, including the harassment of my son, have created a concerning and unsafe environment for my son and me.Goal:My ultimate goal at this point is to evict the tenant due to his ongoing lease violations, concerning behavior, the harassment of my son, and the potential for neighborhood disruption.Questions:1.
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26 December 2024 | 21 replies
It's better to pay more, knowing you have something secured versus cheaping out and not even closing.
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24 December 2024 | 9 replies
With the large down payment, you’ll likely have built up enough equity to secure better terms.
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22 December 2024 | 8 replies
That strategy is not going to work at all. 99 percent of agents don't even know or understand seller financing and will just think it's a scam (which it is most times these calls come in since the caller has no money and therefore is irrelevant to a regular homeowner).
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19 December 2024 | 1 reply
Also, added smart-deadbolt locks to each bedroom for extra security in house-hack situation.What was the outcome?
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18 December 2024 | 5 replies
Some landlords report that it regularly takes around six months to start receiving direct deposits from the government.
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18 December 2024 | 23 replies
Depends who you ask and how secure you feel about your income On the one hand being debt free is great, but leverage allows us to build our wealth quicker.RE investors are notorious for being cash poor, so I would avoid thatIf youre able to comfortably save 100k a year and have enough reserves, I think buying leveraged properties is the best way to scale.You could kill two birds with one stone theoreticallyThey say paying an extra month a year towards principal saves you 7 years on a 30 year fixed mortgageUsing that logic you can add 2+ months a year on your primary, and buy 1 property a year and keep enough reserves.