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18 December 2024 | 4 replies
Quote from @Shaun Ng: Hi, I recently have a legal name change, and I own 2 rental properties in Fairfax county, VA.
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2 January 2025 | 29 replies
We have a ongoing list of each along with their fees and what state they are licensed to collect debt in.
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5 January 2025 | 18 replies
I did that (posted the notice on the screen door and took pictures), however don't know if it's legally served.
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2 January 2025 | 10 replies
Whether it's a legal demand for compliance or simply an email, it doesn't really matter; just make sure everything is in writing.
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5 January 2025 | 13 replies
@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.
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5 January 2025 | 33 replies
Due to my W2 employment I cant have any bad/negative personal debt.
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30 December 2024 | 3 replies
If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.
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23 December 2024 | 12 replies
Cancel bad debts.
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27 December 2024 | 4 replies
Take a look at the overall picture, i.e. credit score, debts etc.. to make a decision.
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26 December 2024 | 2 replies
The goal is to keep these for rentals.I currently own the land personally and am funding the builds with a combination of HELOC and cash - no bank debt tied to these properties specifically.