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17 January 2025 | 19 replies
Another nice bonus of using this as a funding source is no closing costs, big help on the front end.Obviously, if all goes relatively well, the plan would be to hold these properties as rentals and refi at some point down the road when rates on mortgages drops back down a bit, whenever that may be.
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21 January 2025 | 14 replies
PMs and realtors want to use people they know that have been in the business and do a good job for them.
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19 January 2025 | 8 replies
The cash flow would be nice, but are you planning to hold for a long term or refinance before the balloon or sell?
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12 January 2025 | 23 replies
I'm really busy with my w2 job working all the time to fund my investments.
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16 January 2025 | 4 replies
A great way to get started if you currently have a W2 job is to buy a house hack like a duplex or a fourplex where you can move into one of the units and continue to rent/manage the other units.
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19 January 2025 | 10 replies
The big pros are the strong job market (lots of major employers), good population growth, and still-reasonable entry prices.
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12 January 2025 | 25 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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18 January 2025 | 11 replies
If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor.
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13 January 2025 | 2 replies
The team members I've worked with are super nice, but I have to ask, are there significantly better turn key provider deals to be had with a little more patience/perhaps better expectations set from me?
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17 January 2025 | 28 replies
Thinking that may be a nice bonus!