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Results (10,000+)
Antonio Patterson Tired of pushing Real Estate Aside
9 July 2024 | 10 replies
Here's how to get started and advice on each area:Section 8 Rentals:Education: Learn about the Section 8 program, including eligibility requirements and benefits for landlords.Networking: Connect with local landlords who have experience with Section 8 rentals for practical advice and insights.Property Selection: Look for properties in Raleigh, NC, and surrounding areas that meet Section 8 housing standards and have potential for rental income.BRRR Method (Buy, Rehab, Rent, Refinance):Research: Study the BRRR method to understand how to find undervalued properties, finance renovations, and refinance to pull out equity.Partnerships: Consider partnering with contractors, lenders, and real estate agents experienced in BRRR to streamline the process.Market Analysis: Analyze local market conditions to identify neighborhoods with potential for property value appreciation and rental demand.Airbnb Properties:Regulations: Familiarize yourself with local regulations and zoning laws governing short-term rentals in Raleigh, NC.Property Preparation: Prepare properties to meet Airbnb standards, including furnishing, amenities, and guest experience.Marketing: Develop a marketing strategy to attract Airbnb guests, leveraging platforms like Airbnb and optimizing property listings.Overall Strategy:Continuous Learning: Stay updated with industry trends, attend local real estate meetups, and consider joining real estate investor groups.Financial Management: Manage your LLC, Opal Capital Holdings, effectively to track expenses, income, and tax obligations.Long-Term Goals: Keep your multifamily apartment goal in mind, and progressively scale your real estate portfolio based on experience and market opportunities.If you would like some help getting started, or just want to discuss please feel free to reach out to me directly.
Shane Allman Escrow account for rent Question
8 July 2024 | 2 replies
This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.
Keonte Davis Newbie Begin Reintroduced!
8 July 2024 | 5 replies
I think my next few steps will be to build up my team and also practice analyzing deals. 
Dylan Ritch How do I know what kind of investing is right for me?
12 July 2024 | 23 replies
@Dylan RitchReal estate investing can be a challenging decision, but with a structured approach, educate yourself on different investments, analyze your goals, gain practical experience, network, and plan financially.
Shawnte' Grant Hello BiggerPockets! New PRO here
8 July 2024 | 7 replies
Begin with one small home to rent out for practice before going for bigger properties.Good luck!
Jon K. (Current) Tenants say the dumbest things, too...
12 July 2024 | 281 replies
I was disappointed too, @Rich Schmidt.Here's one.One of my tenants, who lives on the top floor of a duplex, didn't think there'd be any trouble to overflow her bathtub and practically go swimming in there while water flowed all over the floor.
Gerry Cohen DO NOT INVEST with SCOTT CARSON (We Close Notes) or Inverse Asset
10 July 2024 | 256 replies
He was suspended for mishandling client funds and disbarred for practicing while suspended.
Dante Anderson Invest in America or Overseas
9 July 2024 | 8 replies
The list is huge, but includes things like monetary risk, legal differences, government corruption risk, management risk, supply chain issues, insurance practices, utilities, tax differences, banking differences, etc. 
Tanganika Darden Is connected overages .com with Bob Diamond legit?
10 July 2024 | 50 replies
Some state attorney generals may even pursue suits against you for "unfair business practices violations."
Kia Grine Are Short Term Rentals allowed in South Lake Tahoe?
8 July 2024 | 12 replies
Those of us who don't practice real estate in the north or south Lake Tahoe areas, usually are members of Metrolist, which serves lower elevations.