25 February 2024 | 19 replies
I linked my own post which explains this very complicated area, and here it is again: https://www.biggerpockets.com/forums/51/topics/1122635-the-s...This not about "fairness" and is not personal.
23 February 2024 | 1 reply
Since it’s actually a little complicated, I’ll do it in steps.
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23 February 2024 | 15 replies
I think mine aren't super complicated and I could probably continue doing them on my own but it'd be great to have someone look over my return (my 2022 one).
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23 February 2024 | 6 replies
If it's that complicated to learn and use this fully setup turnkey program maybe its really not that good?
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23 February 2024 | 10 replies
Especially if there’s a fire and you can’t re-build because the easement is now unnecessary — you can build within your lot lines.
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23 February 2024 | 3 replies
I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.
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23 February 2024 | 14 replies
The PM has failed to write any leases and sent an unlicensed vendor who would like to undertake the unnecessary replacement of your gas line?
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21 February 2024 | 7 replies
It seems overly complicated to me.
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22 February 2024 | 11 replies
I never call it a "cash offer" (it's not), but don't complicate it with all the extra amendments and contingencies.If the buyer gets the property under contract and has to fill out an addendum that asks for financing type, I will always indicate that the purchase is financed if the buyer is using private/hard money.And I'll always include however much time is needed for financing approval into the due diligence period, so there is only one contingency in the contract, not multiple.Doing it this way allow us to be completely honest and transparent, but still give us the best chance of getting the property under contract.
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22 February 2024 | 8 replies
Coachella Valley is quite complicated because a number of areas have some type of prohibition on STRs.