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13 June 2018 | 0 replies
Currently work a full time job and saving money to make this transition into being a full time agent less risky.I'm searching to see if there are any top producing agents in my area on Biggerpockets.
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14 June 2018 | 5 replies
Most of my lenders have higher costs from 50-60K, over 60K and zero issues. sub 50K loans is going to be very difficult to produce
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28 June 2018 | 5 replies
There are some cheaper condos that are going on the market (below $200K) that would produce really good cash flow.
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16 June 2018 | 18 replies
I looked into Cozy and the long wait for my money was a big turn off.For those tenants that want to pay with cash or check I produce bank deposit slips with account and business information printed on them.
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14 June 2018 | 3 replies
As far as an s-corp, it is not usually a good idea to hold rentals in one, as there are issues if your strategy changes in the future.S-Corps may be beneficial if the income you are producing from real estate is ordinary income and subjected to self employment taxes (like flipping homes, wholesaling, property management).Be sure to talk with a CPA that knows your entire situation before making this decision.
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17 June 2018 | 3 replies
Personally, I like 3-4 plex as income producing properties.
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20 June 2018 | 2 replies
To BRRR it would be more like buy a 30K property, then spend 20K doing reno and then have a house worth maybe 80-90K that is paid off and producing income.If you are looking to do this both out of state and as a newbie, two turnkey properties is a clear winner in m book for your situation
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18 June 2018 | 11 replies
If you just started your business 6 months ago and claim to be able to produce a six-figure income, the bank is going to question your ability to sustain that income - I know I would.Sometimes it can be funny.
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15 June 2018 | 2 replies
Is there some way to get a loan based on the fact that it will become an income producing property?
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15 June 2018 | 2 replies
Sad but funny and true part of the story - most of the farmers end up making way more money in retirement from their cash producing real estate than they do farming.