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21 November 2024 | 10 replies
There are several things here -1. 3-4 unit properties require a self-sufficiency test, which could impact your down payment requirements as that could change the max loan amount that they can lend on.
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23 November 2024 | 10 replies
Besides my current rent, I still have to pay an additional $1~2000 for the mortgage, etc.Pros:Better financing rates than for investment propertiescan manage it myself to save the PM feehaving my own place without worrying about rent increasesCons:May only afford a small townhome or apartment, not sure if I still want to live there after 5 yearOption 2: Investing in Out-of-State Multifamily PropertiesI could use my cash to invest in several multifamily properties out of state and use the cash flow to cover my rent.Pros:Potential to spread risk across multiple propertiesThe cashflow can cover my rent, maybe have extra leftCons:Additional costs for property managementLimited potential for appreciationHave no experience in managing OOS property, and I am afraid it will be annoyingI’d love to hear your thoughts or any advice you might have.
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19 November 2024 | 26 replies
Our remodeled home has received multiple offers at or near the asking price.Unfortunately, we've hit an issue with the appraisal.
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14 November 2024 | 5 replies
I have a multiple member LLC and the other members want to cash out on sale projected in Q2 2025 but I want the option to do a 1031.What are my options?
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20 November 2024 | 0 replies
In a dream world - the comprehensive solution does all this: *task management and sequencing where you can drop a property into a sequence ie day 1 call, day 2 mailer (have it automatically mail out something like a postcard) day 3 etc etc etc*project management outside of the outreach sequences for what's next in the process ie schedule inspection, send the contract, etc etc*ability to have multiple users drive around and if you see a property you can tag an address and add it into a marketing sequence, and also track the streets you've hit so you're not wasting time driving by the same houses more than once *dialer (ability to parallel dial numerous numbers simultaneously to make cold calling more efficient - Ive used tools like orum and kixie in other industries, and when you receive a pickup, the other calls are dropped) *skip tracing/data provider *website landing page for converting online visitors to leads*electronic signature/docusign*secondary branded landing site on different URL for blasts for deal disposition to your buyer listWhat am I missing?
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20 November 2024 | 1 reply
I'd recommend getting multiple quotes from service providers to see what pricing is going to look like per square footage.Without too much information provided and depending on the size of your home it could be anywhere from $5,000-$15,000+
25 November 2024 | 14 replies
This 5 year plan allows me to test multiple different strategies of REI, learning lots along the way, and help me figure out what my "niche" is.Just thinking out loud here haha but I appreciate your comments to inspire me to further think through my real estate journey!
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20 November 2024 | 13 replies
This is great for small businesses and entities with multiple properties.
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18 November 2024 | 9 replies
Does that impact any advice you'd give?
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21 November 2024 | 18 replies
Have you already spoken to multiple lenders?