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9 August 2024 | 15 replies
It sounds like an ideal moment to either plow some more money into savings or seek private funding.Perhaps if you find a modest flip you can infuse cash into your system in a hurry and build your network at the same time?
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10 August 2024 | 10 replies
An ideal location would have less than about 7 square feet of storage for every person in the given radius.
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8 August 2024 | 1 reply
Confirm that the Debt Service Company used, will provide you with easy access to: - monthly/quarterly/annual statements of your pymt history - ideally, easy user login web or app access - 1098 or annual (interest payment) tax documentation mailed, emailed, or pdf download-able - alerts, notifications, and pymt scheduling options for: pymt due, pymt applied/received, outstanding balance, etc.3.
12 August 2024 | 22 replies
My friend, every setback serves as a springboard for success.To put it briefly, learn what you can, develop a strong network, start small, secure funding, choose the ideal location, and roll with the punches.
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9 August 2024 | 18 replies
Here’s the plan I’ve come up with, and I’d love to hear your thoughts on its feasibility, potential risks, and any improvements you might suggest.The Plan1.Pay Off Mortgage: I currently have $170K left on my mortgage, and my goal is to aggressively pay it off in the next 1.5 years.2.Establish Emergency Fund: Before making any big moves, I’ll set aside 6-12 months’ worth of expenses as an emergency fund.3.Extract Equity: Once the mortgage is paid off, I’ll pull out the equity from the property.4.First Flip: Using the extracted equity, I’ll purchase another house, fix it up, and sell it for a profit.5.Reinvest Flip Profits: Instead of buying another property immediately, I’ll use the profits from the flip to renovate the original property, aiming to increase its rental income and appraisal value.6.Reappraise and Extract Equity Again: After renovating, I’ll get the original property reappraised and extract additional equity based on its increased value.7.Purchase Rental Properties: With the additional equity, I’ll start purchasing rental properties that offer positive cash flow and have growth potential.8.Leverage Equity Strategically: I’ll use equity from the original property and any new properties while maintaining a healthy loan-to-value ratio (LTV), ideally around 70-75%.9.Build Rental Portfolio: I’ll focus on acquiring a mix of property types (e.g., single-family homes, multi-family units) to diversify my investments.10.Focus on Cash Flow: I’ll prioritize properties that generate consistent positive cash flow, ensuring that rental income covers all expenses, including mortgage payments, maintenance, and management fees.11.Long-Term Hold: I’ll hold properties long-term to benefit from appreciation and tax advantages.
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8 August 2024 | 1 reply
Ideally, if there's an investor in the Augusta, GA area I'd LOVE to shadow you or even do some rehab labor for you on weekends so I can get my hands dirty and see how the wheels really turn.Aside from that, if anyone has any general tips for making connections with local real estate investors or things I should be reading about, I'd love to learn from you!
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8 August 2024 | 17 replies
That tool really sounds ideal...I think in most major markets now that are either saturated or balanced in terms of supply/demand now more than ever amenity rich properties are a must.
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8 August 2024 | 4 replies
Your rate would be above 6%+ with the current DSCR rates and losing the 3.875% rate obviously isn't ideal.
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7 August 2024 | 15 replies
Selling the property, ideally without the non-paying tenants.2.
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7 August 2024 | 11 replies
Ideally, you avoid anything more than 2 chains.