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30 July 2024 | 8 replies
Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.3.
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30 July 2024 | 9 replies
My two favorites are Trumansburg and Lansing.
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3 August 2024 | 28 replies
Also no insurance.Finally, the IRS Audit likelihood for a 1040 with 6 Schedule E properties is about 10 times as likely as a 1065 (with your spouse) or an S-Corp.Then you can get a single K-1 and do your own tax with Turbo Tax.
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31 July 2024 | 19 replies
If the methodology of the appraisal is sound, and the property income producing, quick sale or liquidation value can usually be assumed to be 70-75% of appraised value, imo.
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31 July 2024 | 7 replies
I have a good job and substantial investments but want to avoid liquidating assets (as I believe my investments have a lot of appreciation in the coming years), or paying the mortgage out of pocket every month.
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30 July 2024 | 5 replies
SFHs are great because they are faster to liquidate if your need quick money (generally close in 30 or so days).
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30 July 2024 | 5 replies
One of my favorites (which I may have already shared on here) is the nice young couple from LA who stayed at my Prescott cottage for their Honeymoon.
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1 August 2024 | 23 replies
I have to explain to the the capital requirements to acquire an asset like that which would be 60k+.For projects under 100k purchase acquired at 80% leverage you can figure needing 25k - 30k in liquidity for all the costs of the life cycle of the project.If you start acquiring in that 150k range, that lifecycle can go to 40k/50k needed to make sure you can handle the down payment, closing costs, holding costs, any miscellaneous costs that pop up and then still have a cushion in the account cause you never wanna be down to you last dollar.One of the first questions I ask new clients is what kind of capital do they have behind them, because that number will determine market and asset class.
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30 July 2024 | 3 replies
I believe he is working on completing a roll up of the RV parks in the hopes of selling it to P/E down the road.
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29 July 2024 | 17 replies
HELOC bank doesn't want their line used as a term loan on real estate they don't have collateralized and the bank that you apply for a loan for doesn't want your down payment to be borrowed.If you wanted to get the HELOC for home improvements then decide to draw on it for liquidity, had it sit in a bank account for a couple months and then applied for a MF loan and used it as the down payment, you'd have to answer no to the question, "is any part of the down payment borrowed".