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12 September 2024 | 7 replies
Ironically, the leader of the meetup told me to check with the county if I can add another unit on the property and I confirmed that I can but he probably wasn't expecting for me to have to rezone it as commercial.
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18 September 2024 | 47 replies
The reason you send certified mail is so that there is a third-party confirming receipt.
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13 September 2024 | 11 replies
It's smart to confirm with your lender and tax advisor before making the transfer.
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11 September 2024 | 6 replies
After buying one property how soon can you put yourself back in the market if you do have enough reserved for down payment/closing cost?
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12 September 2024 | 10 replies
You’re on the right track, but make sure to consult with your CPA to confirm your plan aligns with your situation.
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13 September 2024 | 20 replies
It’s home to the Cleveland Clinic, one of the top hospitals in the country, and Case Western Reserve University, making it a hotspot for steady rental income.Dayton offers a similar appreciation range of 3-7% but shines with cash flow at 10-18%.
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13 September 2024 | 16 replies
Here's some guidance on buying your first investment property in Southern California or Columbus, Ohio:Down payment:For investment properties, lenders typically require 15-30% down payment on your first investment15% down is possible with excellent credit (700+ score)20-25% down is more common, especially for multi-unit propertiesSection 8 considerations:Pros:Guaranteed portion of rent from governmentPotential for longer-term tenantsMay be easier to fill vacancies in some areasCons:More paperwork and inspections requiredRent amounts set by local housing authorityPotential property damage concernsOther tips:Research local markets carefully - price trends, rental rates, etc.Factor in all costs - taxes, insurance, maintenance, vacanciesConsider starting with a single-family home or small multi-unitBuild a team - real estate agent, property manager, contractorsHave cash reserves beyond just the down paymentUnderstand landlord-tenant laws in your chosen locationI'd recommend talking to local real estate agents in both areas to get more specific market insights.
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10 September 2024 | 1 reply
So that I find out doing my own calls to find out why the offers was denied even was just so close from asking price and Im willing to go with second offer, I found out that the place has reserve litigation issue and my agent who I rely on and keep emphasizing how we need to work smart dropped the ball again on me and didn't due enough diligence even he claims he knows how to do property searches etc etc which made me feel its an extra that he has, it was very sample to just ask the listing agent so not to waste my time neither his sending unnecessary contracts...
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11 September 2024 | 17 replies
I would say you would want at least $10,000 in reserves in case there are vacancies, maintenance issues, etc.
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11 September 2024 | 8 replies
If it is later in the project, and most of the money is spent, well that is where reserves come in (hopefully those aren't blown through).If you have more time than money, you go in and do work that you would prefer to have hired (i.e. cut new beds and put down mulch yourself versus paying the landscapers...).