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17 November 2024 | 7 replies
Using your own funds to pay down your loan so you get a bigger loan sounds like a zero sum gain (aka IE using 1 dollar to pay down loan so you can net 1 more dollar from the new proposed loan) So how are you going to net more cash when spending 1 dollar to get another 1 dollar ?
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15 November 2024 | 2 replies
Mine is to network and also to gain knowledge.
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19 November 2024 | 19 replies
Take that year to gain some financial literacy and find out what types of investments you're comfortable with, and find the right people to help you invest it.BUT, if you have piles of debt that you can't keep up with, don't wait a year to address those...
15 November 2024 | 4 replies
Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.
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15 November 2024 | 1 reply
Using multiple platforms together and cross-referencing with public records or MLS data (if accessible) can help minimize discrepancies.
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15 November 2024 | 3 replies
Would you be able to give for information.Some question I might ask: Can you get access to the land or is it surrounded by other people property?
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14 November 2024 | 25 replies
Access to the MLS doesn't really give you any advantage.Everyone is struggling to find deals.
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14 November 2024 | 3 replies
Fortunately, you will be able to to a 1033 exchange into new property and avoid any tax on the gain.
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15 November 2024 | 3 replies
You will definitely learn a lot here - reading books and listening to podcasts, attending local meetups and conferences are all great ways to learn, gain advice, share thoughts and network!
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14 November 2024 | 40 replies
Does the person have something to gain from their answer?