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19 November 2024 | 5 replies
If you want to JV your wholesale deals you want to do it with someone you know, like, and trust over time and have met in person.There’s nothing more wasteful and inefficient (in the private sector) than financial intermediaries engaging in a “daisy chain” to try to close “undoable” deals.
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20 November 2024 | 19 replies
Prioritize your financial stability.
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22 November 2024 | 4 replies
It sounds like you’ve made some great financial moves with stable income and savings.You mentioned that you’re focused on multi-family, which can be a fantastic investment, especially if you’re considering house hacking.
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21 November 2024 | 20 replies
@Scott ChampionRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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22 November 2024 | 12 replies
If you want this reflected in your financial statements, here is our process: We move the COGS to inventory on the last day of the year and back to COGS on the first of the following year.
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21 November 2024 | 16 replies
If you're asking how to get a general purpose loan to the LLC, then that's not going to happen without several years of operating history and organized financials for a CRE lender to underwrite.
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21 November 2024 | 12 replies
Wholesalers typically do not carry Errors and Omissions (E/O) insurance, so even if the court rules in your favor, they might not have the financial means to compensate you.Furthermore, ensure that a reputable title company handles the transaction, as some companies may cut corners.
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28 November 2024 | 23 replies
But I have many automations set up and have very detailed financial statements I generate every month so it definitely took me a few months to get the hang of it.
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20 November 2024 | 13 replies
It really depends on your specific situation.It's good you're thinking about the operational and bookkeeping component for your financial account structure to make things easier on yourself and any financial team members you have or may have in the future.You're ahead of the curve!
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14 November 2024 | 5 replies
My goals would be to increase monthly cash flow and have more access to the property's equity for things like Cap Ex, etc....Here's a blurb from a lender's website:"By combining banking functionality with home financing into one dynamic instrument, borrowers are able to save tens of thousands of dollars and years off their loan""Designed after popular programs around the world, the All In One First Lien HELOC is the nation’s first transactional offset type-mortgage program.Home financing and banking combined:Deposits lower your loan’s principalFunds remain available for expensesInterest is calculated on the average daily balanceThis lowers the monthly interest paymentsTens of thousands of dollars can be saved over the life of the loanMortgage freedom can be achieved in half the time or less