But hard money lenders are really expensive so I would be very wary of carrying more than one or two at a time.

Always weigh the potential rewards against the risks and costs of carrying a negative cash flow property.

This is gonna be one of the most important factors and you have little room for error as this is how you're going to get your ARV.Budget and Timeline - Present a budget detailing all anticipated costs associated with the project, including acquisition, renovation, carrying costs, and contingency funds.

You are going to learn a lot on that one that will carry on to the next and so forth.

A LLC is just a bucket for carrying something around.

I do my own taxes with TT Premier, but I'm also a seasoned accountant and create my own schedules for depreciation and tax loss carry forwards.

If your current home sits vacant for 3 months, do you have the funds to carry those costs.2.

With these carrying costs most people are looking to exit the hard money loan in 6 months or less.

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His primary home is also in it's own revocable trust.I don't believe he has any asset in his own name, everything in separate trusts.I believe on each trust he is the trustee with his son as the first named beneficiary.He also carries A LOT of insurance, uses a top property management company and all of his properties are in higher-end areas.I was curious, if he's involved in a lawsuit related to one of his properties - I know the trustee has to be identified and usually the target of the suit, but are the properties in his other separate trusts protected.