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2 January 2025 | 1 reply
I asked the GC as part of the conditional last $20k payment to transfer the title to me after his mortgage note default since I'd paid him $40k in good faith for work reportedly completed but needed rework.3.)
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9 January 2025 | 14 replies
BK is a last resort and I would not recommend it for only $10k, but every situation is different.
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6 January 2025 | 13 replies
Lastly, don’t rush—focus on properties in good locations and with solid potential for both income and appreciation.
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3 January 2025 | 40 replies
I have very rarely sold a property over the last 35 years and the income properties I hold now cash flow very well with not to much effort involved.
1 January 2025 | 24 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.
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1 January 2025 | 32 replies
I have a PO Box that i used for that purpose and any other business mail but since converting to ACH i am not sure when its the last time I went by the post office.
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2 January 2025 | 30 replies
No way that toilet worked multiple days with vape in s trap so last guest definitely were responsible for the vape in the toilet.
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4 January 2025 | 5 replies
When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.
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4 January 2025 | 11 replies
And then the last hurdle is that driving miles between your home and your rental properties by default is considered to be like your "commute" to work, and your commute doesn't count as business miles.
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30 December 2024 | 2 replies
I would tap into your 401k as a super last resort.