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25 October 2024 | 4 replies
Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.
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28 October 2024 | 30 replies
You could have a really solid portfolio in a relatively short period of time.How are W2 employees different than subs?
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24 October 2024 | 15 replies
In WA state, we are deed of trust state and non-judicial (with an option for judicial) and requires a Notice of Default (30-day cure period) and a 120-day Notice of Trustee Sale with cure period.
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29 October 2024 | 15 replies
It could be this was a standard periodic reassessment to account for market value increases and there's nothing to fight.
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22 October 2024 | 1 reply
The economic benefits could extend to local communities, spurring growth and development across the region.
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24 October 2024 | 13 replies
So basically, for a B minus area, for a 3 bedroom brick home you will spend 110k for a rental that brings in $1,400 per month and in a class D neighborhood Section 8 you will be all in for the same cashflow at $80k.If you extend you view to "Metro" Detroit you have more opportunities in Cities like Warren, Hazel Park, Taylor, Romulus, Eastpointe, et al,.
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24 October 2024 | 4 replies
Were seeing a lot of BRRRR refinances in the sixes rate wise recently - rates have been a bit volatile last couple of weeks but some really solid BRRRR deals going on with DSCR considering the short seasoning periods and rates really competitive with conventional alternatives
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23 October 2024 | 4 replies
As a new investor, a duplex gives me some pause because I'm afraid there might be long periods of vacancy where I'll have to come out of pocket to cover expenses.
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22 October 2024 | 17 replies
@Jesse Dominguez-Castelan You should also explore one of the quickest options to this situation - reach out to the seller financing provider and see if he'll extend the balloon a few more years.I did this in the past when my 5 year balloon was about up, it was a simple email checking if he was happy with the arrangement and would extend an additional 3 years.
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22 October 2024 | 10 replies
After listing as a turnkey for a few weeks, the traction has been minimal and have begun exploring DSCR loan options to refinance and hold as my hard money loan is maturing in a little over a month and I do not want to extend.