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24 April 2024 | 36 replies
The process is to flip the cash (you don't flip properties, you flip cash...and make no mistake,...the property isn't the true asset, you cash is) through SFH as described above, then build your cash to roll it into the NNN for the long hall.You have to have a plan, and that plan must be based on numbers with $$$ in front.
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23 April 2024 | 14 replies
I would start out with friends and family to get the ball rolling and then ask them to refer you any investors they think would be interested in your service.
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22 April 2024 | 4 replies
My parents would roll all their proceeds from the 1031 exchange into 75% of the new property.
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22 April 2024 | 2 replies
Although we were not able to get 3.5% as a down payment, we were able to get a 10% loan requirement as well as financing for the property remodel rolled into the same loan.
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22 April 2024 | 12 replies
I have a question that is rolling around in my head.
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20 April 2024 | 0 replies
Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively low income, avoiding IRMAA and doing Roth rolls (no 'realized' income, just transferring from tIRA to Roth = vast majority of annual MAGI income)In the end (coming soon, ~17 yrs) ALL remaining estate will go to charities / Charitable Foundation / DAF.
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21 April 2024 | 6 replies
Practice these answers until they roll off the tongue.
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20 April 2024 | 6 replies
Rent Roll13. property survey14. prelim title report (your broker can help with that)I DO NOT Ask or recommend my clients ask for tax returns, credit reports, bank statements - These fall into financial privacy protections and if my buyer walks from the deal, there is too much liability & risk with having that information if were to be leaked.If a third party management company has been managing it, you'll get basic information (income/expense, rent roll & leases, maintenance records, capex (maybe if they oversaw)).Owner operated properties will have less of this information as most mom/pop operators don't keep good records, in my experience.Don't worry about all this BEFORE the offer.
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22 April 2024 | 39 replies
@Douglas Skipworth,Like Jay, I am required by lenders to update annually with a rent roll and PFS.
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20 April 2024 | 33 replies
But I believe that, on paper, this app does actually do most of the stuff I said I wanted in a property management product.All that said, if you are comfortable using an app for everything, and/or if you have a pot of money you wouldn't mind rolling the dice on to earn 6-8% interest, by all means give it a shot.