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7 November 2024 | 7 replies
I have saved and organized electronically all receipts for expenses as well as improvements on the property.
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10 November 2024 | 8 replies
Yes, you can ultimately own a property with little/nothing out of pocket when you're done - but when you reposition with today's rates even moderately leveraged stabilized assets can be hard to find cashflow with debt service and a realistic operating expense load.
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11 November 2024 | 4 replies
We had to 'pierce the veil' and have an underlying partnership agreement, bank account in the partnership name rather than Land Trust name, but it did work out to open an operating account for each property.
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8 November 2024 | 5 replies
BiggerPockets (BP) does have some tools and templates that can help keep you organized (like checklists for inspections, title, and earnest money).
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13 November 2024 | 18 replies
If I was going to buy something for my company to operate out of (70% of the property), I would then go for a 7A SBA loan.
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13 November 2024 | 14 replies
Go here and ask the operators yourself: https://www.facebook.com/groups/officialpadsplithostcommunit...
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8 November 2024 | 4 replies
*If your aunt was cooperative, you may have been able to form some formal operating agreement... although I am not sure how that operating agreement would hold up in your state.1.
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7 November 2024 | 10 replies
I have heard Texas and most areas would be closer to $100 when its all said and done.You can find good contractors through realtors, HBA in your area, REI Facebook groups and meetups etc.Make sure to check references of past and current clients, visit some jobs in process as you can tell a lot about a contractor by how the job site is kept up and organized.
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9 November 2024 | 21 replies
I see the value in not being overwhelmed because of a failure to properly build a situation with systems and organization.
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5 November 2024 | 28 replies
They were impressed how organized our paperwork was.Notice I didn't list asset protection?