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19 January 2025 | 7 replies
Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.
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21 January 2025 | 4 replies
You can save a lot on costs if you do many repairs yourself.Look into hard money lenders or private lenders for the initial purchase and rehab.Connect with wholesalers, agents specializing in investment properties, and other BRRRR investors to find deals and learn more.
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30 January 2025 | 34 replies
I fired them last year.I just opened my mail to find a notice from a COLLECTION AGENCY stating I owed them money.
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22 January 2025 | 2 replies
I am a hard money lender and need advise if an unsecured loan I made through the Solo 401k defaults and is uncollectible are there tax write-offs as a result of the uncollected loan?
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10 February 2025 | 12 replies
Unless you are using your own money, then you shouldn't have a problem, however, if you are enlisting an investor or a lending company, and there are plenty to choose from, don't go with the ones who do the lowest interest.
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28 January 2025 | 4 replies
Multiple vehicles of storing money; fixed income, equities, crypto, alt investments, real estate, etc.What avenue makes the most sense for you to get into real estate?
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21 January 2025 | 8 replies
These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.
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22 January 2025 | 3 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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28 January 2025 | 6 replies
Hope is a bad strategy.The only on market strategy that I think can work is paying cash/line of credit/hard money for a property that does not qualify for conventional financing.