This will save you tons of time on the job and minimize delays.

Cause if he learns bad habits now, like living above his means or not saving, they'll be hard to break.

Investment Info:

Retail commercial investment investment.

Purchase price: $250,000

Cash invested: $88,000

Commercial flex space. This vacant property was purchased under market value and needed a lit...

They saved him some money by helping rip out a lot of what was likely going out anyway, they hauled it away (granted, they dumped it on the neighbor, but it's still out of there) and they didn't even leave any personal posessions.

In April 2024, I finally saved enough money and pulled the trigger.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

A couple of things in regards to saving on taxes by utilizing depreciation correctly.

You might look into some of the real estate crowdfunding sites that allow you to invest only a few hundred dollars into whatever project you like and build up savings in the meantime so that you can take down one of these deals in the future.

@Sandee SampsonA construction attorney would be who to contact but you are going to spend a lot more than $7000 in getting this resolved against a builder.Also let’s say you win, the courts could also say you didn’t pay for a retaining wall which is needed so it’s a betterment to the property so you would still need to pay for the wall and they would be responsible for some soil etc.

Also, I always keep a few generators handy—trust me, it’s saved me (and my tenants) a ton of headaches!