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12 December 2024 | 6 replies
@Andres Felipe Alba Hernandez Yes, neighborhood covenants can sometimes restrict certain activities, including short-term rentals (STRs) or renting out parts of a home, even in areas without a Homeowners Association (HOA).
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12 December 2024 | 7 replies
I would also recommend that you find a CPA that also invests in real estate.Check out the forums for CPAs including this thread.
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10 December 2024 | 5 replies
Quote from @Garrett Karnath: Quote from @Jason Wray: Garrett,If you are talking about reducing closing costs including the banks side you can ask the sellers for a "Seller credit" which they can offer up to 6%.
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11 December 2024 | 5 replies
The seller's refused to reimburse our LLC the home inspection costs.Under these conditions, since our purchase contract includes an "inspection contingency," CAN WE GET OUR MONEY BACK FOR THE HOME INSPECTION THAT REVEALED A PROPERTY IS A FIXER WHEN THE LISTING AND PHOTOS SHOWS THE PROPERTY IS IN MOVE-IN CONDITION?
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17 December 2024 | 17 replies
Here is a list of potential options:Trello/Asana/Zoho Projects/Freedcamp/Basecamp/Workfront/Monday.com/Jira/etc,etc,etc,etc,etc - General project management software that includes tasks, Gantt scheduling, calendars, project forums, document storage & team collaboration toolsTeamGantt/Gantter/MS Project - Gantt Scheduling Softwares for creating Gantt Charts & Timelines, & managing tasks.Podio - Customizable system that allows you to build workflows, track tasks, track leads, etc.Smartsheet/AirTable - Provide spreadsheet style platforms with additional functionalities for uploading documents/images, assigning tasks, calendar, images, etcOffice 365/Google Sheets Spreadsheets - Believe it or not, a lot of successful flippers still manage their entire business in Microsoft Excel or Google Sheets.
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12 December 2024 | 3 replies
This type of partnership will likely include managing partners and acquisition managers tasked with finding and structuring the deal.
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12 December 2024 | 17 replies
It would be nice to start a group which meets with regular cadence so that attendees could plan to include it in their schedules.
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12 December 2024 | 6 replies
Always a good idea to include a tax accountant in your decision-making process.
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15 December 2024 | 9 replies
My prediction that these "bans" and regulations are all going to pretty much converge into reasonable middle ground regulations (mostly including taxes fees) is still looking very good.
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15 December 2024 | 14 replies
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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.