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11 February 2025 | 13 replies
This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.
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22 January 2025 | 0 replies
When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.
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26 January 2025 | 19 replies
Zoho has an in-built dialer and can integrate with SMS services, offering a good balance of functionality and ease of use.Each of these CRMs has its own set of strengths and potential limitations, so I'd recommend taking advantage of any free trials or demos they offer.
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19 January 2025 | 2 replies
Listings come from nurturing your database for years, so if you are new, you have to pick a niche or an area that you have a competitive advantage in.
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13 January 2025 | 2 replies
Great question @Lorraine Hadden,You should always compare both side by side to see the advantages /disadvantages to each.
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29 January 2025 | 11 replies
This is advantageous bc later you have a third party loan (not your personal money) so seasoning period is 90 days to DSCR out.
21 January 2025 | 7 replies
Take advantage of all the information available to you.
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16 January 2025 | 23 replies
Hard to produce cash flow or break even with that much debt, at that rate.House-hackers, however enjoy certain one time (non-scalable) advantages that should be taken advantage of in the early days: - They can assume pre-existing debt like VA and FHA Loans (rather than take it on Subject-To which is dramatically riskier).- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.
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17 January 2025 | 20 replies
It allows you to take advantage of a low down payment loan.
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21 January 2025 | 19 replies
Anyways, I might take advantage of the free trial.