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20 September 2024 | 39 replies
Hello everyone, I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)I'm seeing a lot of deals from wholesalers, but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?
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12 September 2024 | 2 replies
If a renter wants to extend for a few months their stay beyond the initial lease term, will I be a) required to extend and b) at the same rate as their existing rate?
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14 September 2024 | 4 replies
If the seller is now asking to be able to complete the home inspection, without first fixing the gas leak, I again don't have any issue with that as long as its inside your inspection period and you have the credit etc in writing at this point.
16 September 2024 | 13 replies
I’ve periodically had tenants at the Multis offer to “help with the landscaping” in exchange for a discount on their rent.
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14 September 2024 | 4 replies
Needless to say, I retracted my offer before my expiration period lapsed!
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11 September 2024 | 18 replies
The IRS considers fence replacements as improvements that extend the life or value of the property, even if it’s replacing an old, damaged fence.The depreciation period for a fence on a rental property is 15 years under the Modified Accelerated Cost Recovery System (MACRS).
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16 September 2024 | 43 replies
I also look widely for HELOCs for my own rental portfolio and am not seeing danger signs there, either, defined by me as lenders cutting off lines or no longer extending lines.
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13 September 2024 | 1 reply
Delays often increase labor costs, especially if contractors need to extend their work.
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14 September 2024 | 1 reply
I found this deal through a relative, we negotiated without an agent through a period of x months.