I bought a business where the prior owner had it in an S-Corp, the S-Corp and he was sued personally for three million.

If the roof itself is not covered, you can estimate your out of pocket if the whole roof has to be replaced. 

They usually have a step down on that penalty like 3% year one, 2% year two, 1% year three and so on and so forth.So if you are buying a deal with the intention of rapidly increasing it's value in less than 24 months in order to refinance it and pull your cash out, you might want to go with a credit union for the acquisition financing because FCUs are barred from charging pre payment penalties.I could talk about this for hours about all the nuances but my fingers don't type that fast lol

Start with these three key points:Current SituationAssess your current or expected capital and credit within a realistic timeframe.

That said, good wholesalers have a handful of buyers in their back pocket that get all of their best deals.

Some people with deep pockets are buying for appreciation and the negative cash flow doesn't bother them. 

We see so many prospects who have been told by Youtube or mastermind gurus that multiple LLCs in three different states is beneficial when in reality the costs of upkeep hit the bottom line harder than any benefit.

I look forward to being involved with bigger pockets and am excited to connect.

I have three vacancies in a C class neighborhood and the only people I’ll rent to now are Section 8 with a small tenant portion.  

The cash lost from my one investment that sold at a loss last year was almost completely offset by three properties that executed cash-out refinances in 2024.