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8 November 2024 | 2 replies
Typically flooring guys charge a flat install per square foot and then more for stairs.
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7 November 2024 | 22 replies
As a small business owner in a previous life, I found the bookkeeping super daunting, despite my love for numbers, budgets, & just data in general!
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7 November 2024 | 14 replies
(The exception to this is loans based off prime which would typically be home equity lines of credit as the Fed funds rate does affect prime) The Federal Reserve meets 8 times a year, while the bond market which actually dictates mortgage interest rates is traded every second of every day of the year.
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7 November 2024 | 7 replies
Expenses that exclusively relate to the rental unit are 100% deductible, shared property expenses (like mortgage interest, insurance, and common area repairs) are typically 50% deductible, and personal residence expenses aren’t deductible.
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13 November 2024 | 66 replies
People will tell you the selling price is set but it’s negotiable just like a standard listing. 2% is the max they will typically do on concessions.
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8 November 2024 | 9 replies
In return, we fire them over deals that we don't typically focus on like non-real estate commercial lending.
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7 November 2024 | 3 replies
Due to personal faith based reason, I prefer to only invest in all cash deals that don't involve traditional financing (so typical passive RE options like syndications, RE funds with fixed returns, REITs etc are not a viable option for me).
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8 November 2024 | 5 replies
Just double-check with the Illinois Department of Financial and Professional Regulation (IDFPR) to make sure you have all the specifics covered.Managing Broker and Deal Visibility: Yes, typically if you hold your license under a managing broker, they’ll have visibility into your deals since they're ultimately responsible for the transactions you complete.
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7 November 2024 | 27 replies
@Connor Thomas see our cut & paste knowledge below:------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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8 November 2024 | 22 replies
A consistently higher appreciation can make up for a lower purchase price discount, but 5%+ appreciation for 5-10 years is typically not the case in markets that offer some amount of cash flow.2.