Devin James
To those who consider themselves very wealthy, is wealth worth what is takes?
22 January 2025 | 56 replies
Most of the ultra wealthy individuals sacrifice a lot to obtain their wealth, and I won’t make those same sacrifices.Similarly, I don’t desire to have 5% body fat because I don’t want to put in the effort required for it.I understand that ultra wealthy is subjective, but the main point stands.
Chris Hertig
Tenant Living in Garage/Shop!
14 January 2025 | 4 replies
I did post the 'Demand to Comply' which he ignored, so now I can post the 'Notice to Terminate' and wait another 10 days.Yes, I have the notice of violations from the city and body cam from the officer.
Mario Morales
Cash Out Refi-LTV on a rental property vrs owner occupied
23 January 2025 | 4 replies
If you are attempting to use income for the non-conforming unit, they will need to verify that it can legally be used as a rental unit.
Don Konipol
The Most DANGEROUS Real Estate Investments for the “Amateur” Investor
23 January 2025 | 18 replies
Quote from @Scott Trench: Wait... the guy who buys all the ads (through Google) on BiggerPockets YouTube videos and attempts to reach BP viewers says that Tax Liens are the best way to build wealth, asking me repeatedly and agressively why I'm not doing it?
Steven Moutray
New to REI, Building foundation
16 January 2025 | 3 replies
Home inspections was a next step for me as I get older and my body is starting to get tired.
Jonathan Baptiste
How to stock your airbnb best practices
18 January 2025 | 16 replies
We are in Tampa so a similar market.We provide a starter set which is clearly communicated to guests (thought some people do not like it and clearly do not read which you cannot help) generally consisting of:- 2 Laundry Pods- 2 Dishwasher pods- 2 Rolls of Toilet Paper per bathroom- 2 Paper Towel Rolls- 2 Trashbags- All soaps are refillable including dish soap, hand soap, and body washes/shampoos.They are expected to get their own should they run out of anything.
Donald Hatter
Reporting Unpaid Rent to Credit Bureaus
11 January 2025 | 1 reply
@Donald Hatter We send the information to a collection agency who attempts to recover the money; after they make several attempts they place it on their credit report.
Scott Johnson
Scammed by "Estate Legal"
20 January 2025 | 13 replies
After that, they sent a few messages mentioning they were working with a couple of probates and would get back to me.To date, I haven’t received anything, and my attempts to reach them have gone unanswered.
Erica Dike
Design Dilemmas: What's your biggest struggle with designing your vacation rental?
24 January 2025 | 25 replies
To match them, I use a formula Sofa: solid color textured pillow (2) + patterned pillow (2) + solid color (2)King bed: 26"x26" pillows (3) + lumbar/body pillow at least 48"L (1) - I'll do a print + a solidQueen Bed: 26"x26" pillows (2) + lumbar pillow 36" (1)Twin/Bunk: 14" x 20" lumbar pillow (1)In outdoor spaces, I keep it simple and match the pillows to the rug.For artificial plants I source from Nearly Natural, Wayfair and Home Depot.
Jeffrey Bourque
Found a Deal but Not Sure
27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.