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23 October 2024 | 11 replies
A) while there are a lot of groups that have, what I consider, a primary initial backer, most "syndications" are raised in $50-100k installments.
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21 October 2024 | 15 replies
Might not be easy but it has been done with proper permits here in the neighborhood.
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17 October 2024 | 4 replies
We have installed a mini split in their unit which is located upstairs.
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20 October 2024 | 1 reply
The property is 20 mins from San Diego proper and 30 from the beach.
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23 October 2024 | 15 replies
If you are in the 20% range, you are better off going to the casino and putting all of your money on black and seeing what happnes.Since you are out of the area properly calculating cash on cash returns can be difficult because you have variable expenses to calculate.
21 October 2024 | 2 replies
As for the gift for the down payment, it's generally allowed, but it must be properly documented as a gift letter to the lender.
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23 October 2024 | 18 replies
However, I want to ensure I'm properly structuring deals, receiving legal and fair compensation.
21 October 2024 | 5 replies
Some things to consider with the above suggestions of creating an LLC and contributing the property + $100,000.The basis the partnership has in the property is transferred from Person A.If person A's basis in the property is $100,000 but the value is now $200,000.The depreciation would be based on the $100,000 instead of $200,000 which may 'upset' partner B.Furthermore, you have to properly structure it so the IRS does not see it as a 'disguised sale'.A disuised sale can potentially occur when Partner B contributes $100,000 into the partnership and it is immediately transferred to Partner A.best of luck
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21 October 2024 | 4 replies
Maybe you refinish the existing wood floors in the bedrooms rather than install new flooring.
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21 October 2024 | 13 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.