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17 May 2024 | 11 replies
It gives you valuable experience as a landlord firsthand which will be helpful down the road when you consider a BRRRR strategy with hard money.
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17 May 2024 | 7 replies
Therefore, if your rental income doesn't keep up with inflation, you must consistently reduce your monthly expenses or return to work to compensate for decreased purchasing power to maintain your living standard.No matter how many properties you eventually own, unless rents outpace inflation, you can not achieve true financial freedom.Back to Your SituationYou stated, “I don't believe that the property will continue to appreciate or see the rent growth it has seen over the past few years.”
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16 May 2024 | 6 replies
STR Achievement Unlocked: I have a business partner who has an AI bot filling last minute vacancies on FB and, because sometimes it was too late for the canceling guest to get a refund, he sometimes runs occupancy above 100%.
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16 May 2024 | 8 replies
The average person can totally achieve financial independence easily with education, self-discipline, and consistency.
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20 May 2024 | 28 replies
Make sure you leave that new LLC as a disregarded entity, or if you bring investors on with you, make sure it’s taxed as a partnership (subject to Subchapter K).The only way to mitigate cap gains would be if the property appraised very close to its net tax basis.The other strategy at your disposal is to dissolve the S-Corp in the same year (though you really need to be in-line with your CPA on this one)… you should have more tax basis post- deemed sale, and that basis would help you achieve a capital loss on dissolution of your corporation.Talk to your CPA my friend!!
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16 May 2024 | 11 replies
We bought our first 25 units and started to self manage out the gate, and have been since then, with over 2,200 units.Interestingly, A lot of our members in the J&G community start out with third party, and when they've achieved some scale, decide to bring in house.
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16 May 2024 | 4 replies
While borrowers expect transparency and efficiency, lenders strive to provide upfront explanations and support to ensure borrower success and foster lasting relationships.In the lending world, there's a common understanding that achieving all three qualities—fast, easy, and cheap—simultaneously can be challenging.
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15 May 2024 | 16 replies
What's your main objective that you are trying to achieve?
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15 May 2024 | 3 replies
Perhaps the appraisal comes in higher and this target is achieved even at 65% LTV. 6.
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16 May 2024 | 17 replies
On a long hold, you will definitely achieve your goal.