Matt Miller
What Systems Are Brokers Using to Run Their Business? (CRM, LOS, Marketing, etc.)
20 January 2025 | 7 replies
The Automations are very good and you can customize mass follow-ups 2.
Courtney Dettlinger
Should I use home equity loan & how
22 January 2025 | 1 reply
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.
Michael Plaks
EXPLAINED: sending 1099s to contractors and vendors
15 January 2025 | 13 replies
I've had some not happy when I have asked them to split it out.I've tried asking questions to the IRS customer service reps, and didn't have the best luck.While I cannot cite a specific official guidance on this issue, I consider debit cards exempt.
Kate Zieverink McMinn
New to ADU - Checklist or Cheat Sheet?
17 January 2025 | 6 replies
A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion.
Rafael Valdor
Renting out my townhouse: DIY vs. PM vs. Realtor
11 January 2025 | 14 replies
With the right PM, you’ll have peace of mind knowing your property is in good hands and generating steady income.Good luck with your search!
Desiree Board
Sole proprietor, LLC or Corporation?
22 January 2025 | 3 replies
Rentals generate passive income, so an S-Corp offers no added tax benefit.
Zongfu Li
Kiavi is the worst lenders I have been working with
15 January 2025 | 11 replies
Several factors indicate the company is not that concerned about efficiency or ease of customer process: the website, a process that seemed to focus on one issue at a time instead of all issues at once, and consistently poor communications and lack of common sense from the loan analyst we were assigned.It started off very well with the initial point of contact, Austin Lornson, who did a fine job of explaining the general refinancing process, responding quickly and thoroughly to our questions.
Nick Wimmel
Looking to purchase a duplex in Middletown, Ohio
8 January 2025 | 12 replies
I have a ton of customers in CA that have purchased in all over Middletown, OH.
Augustine Chang
Breakeven Strategy for Studio Condo Rental in NYC – Need Advice on Options!
20 January 2025 | 1 reply
Hi BiggerPockets Community,I’m looking for advice on breaking even or generating positive cash flow with my studio condo in Prospect Heights, NYC.
Account Closed
Thoughts on using cash or HELOC for down payment on investment property
7 January 2025 | 1 reply
. - if I use my cash, the investment needs to generate > 5%.