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15 December 2024 | 9 replies
Yes starting out there is a low dollar per hour but at some point it needs to be worth the while - as you could be spending that time doing something more profitable.Not saying to give up by any stretch just saying make sure to re evaluate consistently to put the best strategy together
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17 December 2024 | 4 replies
You're asking someone to spend a lot of time and energy to share what they've spent years - maybe decades - learning and developing.
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13 December 2024 | 2 replies
I also use business lines of credit from banks, but for this banks definitely want to see revenue (usually 5-10x the amount of a mine they will give you).It is important to remember though that just because these lines and CCs are not immediately reported on your personal credit report, if you miss payments or default you are personally liable and the debtors will add it to your personal credit report.
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18 December 2024 | 9 replies
Additionally we keep the total security deposit until ALL the tenants move out, so the leaving party won't get their security deposit back until the last party leaves.
19 December 2024 | 5 replies
Here are a few additional insights that might help as you transition into multifamily:First, when scoping out deals, relationships are key.
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16 December 2024 | 6 replies
This can help you greatly with the additional depreciation.Ultimately, med to large MF and small 2-4s are totally different products.
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6 December 2024 | 4 replies
Then don't rehab for zero COC return.But if you can spend $3000 on the lite rehab and increase rent from $1000 to $1050 then you'd gain $50 per month.50 x 12 = $600 more annually because you rehabbed.600 / 3000 = .2 or a 20% cash on cash return!
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13 December 2024 | 32 replies
I'm currently helping my aging parents, and I need to be spending more time taking care of them.
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18 December 2024 | 5 replies
Additionally, some landlords are still waiting on over $5,000 in payments from the program.This market is right in my backyard, and it seems like a good place to start, as I can afford to buy homes in the $65,000–$80,000 range and am familiar with the area.
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11 December 2024 | 4 replies
And how much can I expect to spend on this process?