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15 January 2025 | 2 replies
I know hosts have included additional cleaning fees for violations as a deterrent.If none of these solutions work, you could look into completely independent HVAC systems for the two units, though that would be a bigger upfront investment.
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14 January 2025 | 9 replies
That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.
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17 January 2025 | 9 replies
Additionally, it's a good idea to connect with a Property Manager early on.
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20 January 2025 | 3 replies
I racked up debt, at times putting expenses like property taxes on a line of credit.
12 January 2025 | 10 replies
A business line of credit through your LLC protects personal assets, builds business credit, and may allow interest deductions, but it might be harder to secure for a new LLC.
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14 January 2025 | 3 replies
If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC.
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14 January 2025 | 11 replies
So you have some great resources right off the bat, my additional Referrals would be too many :)
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14 January 2025 | 6 replies
Rate will be highly dependent on loan size, credit score, LTV, location, and property type, as well as a few other factors.
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19 January 2025 | 8 replies
Additionally, add in the ambiguity/risk of the due on sale clause or ramifications on the conventional loan of transferring the property from your individual name to an LLC - the economics don't make sense, and the headache isn't worth it even if it did, in my opinion!
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23 January 2025 | 45 replies
Additionally, I'm hearing at meetups that this could extend to multi-fam under 4 units as well, although I haven't been able to confirm.I work exclusively with smaller investors in the multi family space and would be happy to chat more about it.