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29 January 2025 | 25 replies
Things they did bad which I wish I had asked more information about:Never involved in the screening of tenantsThey recommended keys for cash by waiving the rent amount buy only collecting fees which they would get not meThe cost to evict is 750-950 yet other companies told me they will include eviction in the priceThe tenant didnt pay in full last month and I was the one calling out to them and asking questions then a few days later I get an email saying something happened with the tenant and they are investigating.You get passed from person to person every week or so.No one told me when the construction was complete and so the house was ready for a week and the post to zillow and other sites was not done.It took them another week to take pictures and then another week to upload it.I was paying 200 dollar a month electric bills while the house was vacant because they left the AC running in the empty property.
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30 January 2025 | 13 replies
I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down?
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31 January 2025 | 7 replies
@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.
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4 February 2025 | 18 replies
Don't talk yourself into a place because of personal use.Buying a $475k condo that brings in 35k in gross rental income will lose a lot of money.
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10 February 2025 | 5 replies
Since your property has high resale potential, some lenders may be willing to work with you.Cash-Out Refinance – If you’re open to refinancing, you could take out a new mortgage for a portion of the home’s value (say, 60-70% of the $500K), and use the cash difference for renovations.Personal Loan – If you have good credit, you might qualify for a personal loan for part of the rehab costs, though interest rates are typically higher than secured loans.Partner with an Investor – Given the potential profit, you may be able to find a real estate investor or contractor willing to finance the rehab in exchange for a share of the profits upon sale.Your best option depends on your financial standing, timeline, and risk tolerance.
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3 February 2025 | 47 replies
I am betting your gonna find a lot more friendly amicable persons than shut doors.
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16 January 2025 | 5 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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10 February 2025 | 21 replies
I would not borrow from ANY lender I learned of over the internet unless I knwe personally people who had used them.
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1 February 2025 | 1 reply
The person leaving the trailer there is just to store it there.
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31 January 2025 | 6 replies
It will still be reported on your personal tax return.