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8 January 2025 | 20 replies
We could sell the house invest the money and pay his bills with the investment proceeds but in order to do this we need to rehab the house which will still take a few months and obviously she needs to leave before we can put it for sale in order to get the best price.
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28 December 2024 | 11 replies
I am an aspiring new real estate investor based in CT looking to use the power of real estate as a wealth building tool and income producing asset class.
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29 January 2025 | 107 replies
G'Day Luka,I'm not a fan of out of state BRRRR.It's hard enough for us on the ground to get rehabs done on time and on budget and I don't even want to think how difficult, expensive and time consuming it would be for out of state investors.And then include a high LTV and that can be a portfolio killer IMO.Hat's off to you mate for grabbing the bull and jumping in.You live, you make mistakes, you learn and you grow.Such is life.Building a large portfolio is an absolute must when investing in sub $100,000 properties in Ohio.I "killed" my business by not wanting to sell to investors that are using leverage.Our sales volume could increase by 70-80% but it is what it is.I just don't believe in it or want the hassle associated with it lolReason is mostly two fold:1) Not in the mood to deal with lenders for 2 months and hope the deal will go through.2) I don't believe that investors should use high LTV when building the foundation of their portfolio.My advice to you:1) Pay them off as quickly as you can.2) Build a larger portfolio.The investors that $#@% the most on my name are the ones that buy 1 or 2 properties and expect miracles.As you said, 1 furnace goes out or a sewer line needs repaired and bye bye cashflow for 2 years.We get blamed although we can't predict to fix certain things and there are just many unknowns with all investments.Our happiest investors are the ones that own 6-7 or even 10+ properties and all with cash and no leverage.They aren't worried about turns or tenant issues that occur on 1 or 2 properties as it's just the nature of the beast.Returns vary but across the board over the last 10 years I have seen 6-10% net ROI's year after year.Building a large portfolio is a must to minimize risk and to get the best possible long term ROI.Thanks
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10 January 2025 | 9 replies
A “syndication” is almost always a capital raise for the sale of a security/investment.
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3 January 2025 | 7 replies
Might be for sale here on BP or for sure can probably find on Amazon/Ebay.You should also connected with @Henry Clark and https://www.biggerpockets.com/users/paultmooreIt seems like you are focusing on one property.
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13 January 2025 | 15 replies
What I have seen is an internal sales team (AE's/Reps who split their time between referral partner development and managing their pipeline) combined with someone solely responsible for digital marketing (social media, SEO, ppc).
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31 December 2024 | 20 replies
This is a difficult sale... finding someone to invest is a difficult sale but asking them to invest for decades is going to be an almost insurmountable sale.
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31 December 2024 | 97 replies
More to the point of your post, the agreement of sale should have language detailing precisely how the escrow funds are released to buyer or seller.
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17 January 2025 | 21 replies
Summit county (Akron) has a much lower sales tax rate (6.75%) than Cleveland (Cuyahoga at 8%).The MLS in Akron shows homes at similar if not cheaper homes but for a good reason.