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15 November 2024 | 1 reply
Unfortunately, there's been reports of user accounts being closed without any reason.
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26 November 2024 | 127 replies
My wife and I are working with a friend as a partner.
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15 November 2024 | 15 replies
Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs, commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?
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18 November 2024 | 4 replies
With the help of an investor-friendly agent How did you finance this deal?
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20 November 2024 | 3 replies
We've rented out some of the rooms to friends for several months which has allowed for some help with the mortgage.
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18 November 2024 | 3 replies
For further reassurance, you could take their lease to a real estate lawyer and ask them to review it.Lastly, If you have any friends in the property management space, maybe you could buy their leases as well.
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15 November 2024 | 2 replies
Hey BP peeps,When seeking a HELOC, does anyone know of a financial institution that works well with clients that lack W2 income? Most if not all of my income appears on my Schedule E as rental income from a college re...
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12 November 2024 | 5 replies
If you're just holding a single property, many start with online services like LegalZoom or IncFile, which are affordable and user-friendly.
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19 November 2024 | 1 reply
Hey everyone,I’ve been diving into San Antonio’s STR regulations to get a clearer picture of how friendly the market is for short-term rentals.
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18 November 2024 | 16 replies
I am wondering who has done the BRRRR method as an investor and what institutions are investor friends for multiple BRRRS.