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13 February 2025 | 5 replies
Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.
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15 February 2025 | 2 replies
I realize I'll need to consult with my attorney and CPA for actually structuring these, but I'm interested to learn from anyone here who's scaled their real estate business from their individual portfolio or flipping business, to bringing in outside capital to grow.
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20 January 2025 | 31 replies
I had to redo everything they did on my taxes.
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4 February 2025 | 3 replies
Initially the numbers were 40k for rehab cost Lessons learned?
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20 January 2025 | 1 reply
I have been to RE meetups in the past with like-minded everyday investors pursuing similar goals, sharing stories and learning from each other, running through numbers, sharing network contacts, and even doing deals together.
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11 January 2025 | 5 replies
Home went to tax sale county kept excess proceeds.
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23 February 2025 | 80 replies
In many places, daycare costs, commuting, office clothes, taxes, meal prep, all take up a working person's full income when you switch to going back to the office.
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7 February 2025 | 10 replies
Or, the "pay me to learn how to raise money, so you can then go and raise money for my deals".
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13 February 2025 | 123 replies
I have heard from people who enjoy learning from him.
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20 January 2025 | 14 replies
Someone with $10M in the bank in cash just needs to put a lot of money to work and time value and tax write off is more interesting to them than a hungry investor in their 20s that has never found a deal.Honestly, books are great, but they are about as "boiler plate" as you can get as I'm sure you're discovering.