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21 March 2024 | 6 replies
If you do this you can potentially include a higher security deposit but you want t make sure to follow state laws about that.I understand that people may be improving their credit due to life circumstances.
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20 March 2024 | 4 replies
There could always be circumstances where a hold period of less than a year might be fine.
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22 March 2024 | 132 replies
On the one hand, I'd say the more bedrooms the better because of the better but the problem is that I'd want to invest as less as possible given what I see.Under no circumstances would I buy anything on the other side of 307 because there's gonna be too much on the "better side".
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22 March 2024 | 88 replies
Market circumstances might change, even if your intention is to flip the property, so think about your choices in case your initial plan doesn't work out.Market Analysis: To verify your predictions on future appreciation, growth in the rental market, or the effect of renovations on property value, do a comprehensive analysis of the market.Time frame: Evaluate the opportunity cost of having your cash invested in a non-performing asset and be realistic about how long you're willing to wait for the property to turn a profit.Investing in a property with negative cash flow can be a calculated risk under the right circumstances, but it requires a higher level of due diligence, market insight, and financial planning.
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20 March 2024 | 19 replies
Quote from @Craig Parsons:(2) Whether a trip is related primarily to the taxpayer's trade or business or is primarily personal in nature depends on the facts and circumstances in each case.
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20 March 2024 | 8 replies
That's not possible...If you signed a contract for $100k, that's the price 'until and unless' there are changes requested by you OR required by circumstances (in-wall wiring is frayed. headers are undersized, etc)Second - Please don't breakdown the materials and buy them yourself.
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20 March 2024 | 7 replies
As you gain experience and confidence, you can explore more advanced strategies like BRRRR or expanding into different markets.Ultimately, the best approach for getting your first rental property will depend on your individual circumstances, goals, and preferences.
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20 March 2024 | 18 replies
They will call you each day, which is usually a good thing because you'll always know how your loan application is doing and they'll make every effort to close by the deadline—barring any unforeseen circumstances.
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19 March 2024 | 13 replies
I think that is a very important distinction.
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19 March 2024 | 0 replies
High Maintenance Costs: Escalating maintenance costs can erode your profit margins.Change in Neighborhood Dynamics: Shifts in the neighborhood that negatively affect your property’s value are a red flag.Better Investment Opportunities: Selling might be wise if you've identified a more lucrative investment opportunity.Cash Flow Necessities: If you need liquidity, selling a property can provide a significant cash inflow.Tax Implications: Sometimes, selling can be advantageous for tax reasons, especially if you can benefit from capital gains tax laws.Personal Financial Changes: Changes in your personal financial situation may necessitate liquidating assets.Retirement Planning: Selling investment properties can be part of transitioning into retirement.Portfolio Diversification: Selling might be necessary to avoid overconcentration in real estate.Legal or Regulatory Changes: New laws or regulations can impact the attractiveness of holding onto a property.Ownership Challenges: If the burden of ownership outweighs the benefits, it may be time to sell.Real Estate Market Trends: Anticipating a downturn in the market can be a reason to sell early.Interest Rates: Rising interest rates can reduce the pool of potential buyers and lower property values.Property Value Appreciation: If your property has appreciated significantly, taking profits might be smart.Lifestyle Changes: Sometimes, personal life changes dictate a shift in investment strategies.ConclusionDeciding to sell an investment property is a complex decision influenced by market conditions, personal circumstances, and future investment goals.