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7 January 2025 | 8 replies
Then connect with some hard money lenders (you can find some here on BP as well as some who are typing this right now) and connect with them to understand their product type, what they like to lend on and requirements.Hard money broker is all numbers game of making relationships and helping those that are looking for financing, it starts out slow but if you get with a few good borrowers and lenders it can be pretty decent money to be made.As an example we paid six figures last year to HM brokers.
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9 January 2025 | 46 replies
Early last year we started looking for our first tax planning partner.
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27 December 2024 | 34 replies
I Have done it twice in the last 12 months and they were my 2 most difficult excluding covid lockdowns.
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30 December 2024 | 11 replies
Loss of rental income is only covered if it is listed in your policy.
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9 January 2025 | 6 replies
I have been buying and dealing with Real Estate for about the last 30 years.
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22 January 2025 | 22 replies
The last thing is you must use all of the net proceeds in your exchange.
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4 January 2025 | 12 replies
You don't want to sell at a loss either.
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23 January 2025 | 31 replies
This last bank limitation isn't a bad thing in my opinion because the long-term rental yields are low and what are you going to do if a tenant doesn't pay?
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7 January 2025 | 24 replies
Quote from @Bob Asad: If I have 2 rental properties and charging 1st, last, and security; can I take the last and security for both places (combined) and put them into a Bank of America savings account?
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6 January 2025 | 2 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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.