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12 January 2025 | 185 replies
Making the next million is nice but doesn't motivate me to log long hours.
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29 January 2025 | 10 replies
This means leaving the door open that long to dry.
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30 January 2025 | 56 replies
Ideally, you network with people who have owned properties for a long time.
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29 January 2025 | 24 replies
Kind of hard to tell them to match or I go to the other bank when they are getting messages from the seller and escrow daily that we need to close ASAP.I can't actually push it off for too long since I don't know when the second bank will close and we removed contingencies a month ago.Signed with the first lender and had to swallow the points.Learned some interesting lessons along the way.
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24 January 2025 | 1 reply
Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.
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23 January 2025 | 6 replies
One long-shot option is to offer a lease at something like $1,300.
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7 January 2025 | 8 replies
However, short term rentals are much less passive than long term rentals and are essentially a hospitality business, which is in and of itself required a whole additional layer of knowledge and expertise.With regard to your question about private lenders, it’s important to draw a distinction in terminology between “private” and “hard money.”
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21 January 2025 | 3 replies
If you do, you should expect a very aggressive challenge by the IRS.At $350K of combined value it might be worth the cost to get a segregation study if you intend to keep these a long time.
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30 January 2025 | 6 replies
Then once it's acquired and/or fixed up you could shop around for long term financing if planning on holding the property rather than flipping it.
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24 January 2025 | 5 replies
As long as the business portion of the land is at least equal to the amount of your sale that would satisfy your exchange.