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17 October 2024 | 7 replies
The ambition is great to scale fast, but you can treat the smaller deals as practice as you learn to scale.
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17 October 2024 | 9 replies
So the thing with fix-and-flip projects is that the income you make is treated as ordinary income, not capital gains.
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14 October 2024 | 2 replies
You treated them as part of your personal finances when you wanted to lay your hands on some money BUT want to think of resulting debt as part of the business and are frustrated that the rents aren't covering that debt.
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21 October 2024 | 16 replies
My experience is that these issues coupled with love turn good tenants into bad tenants.
30 October 2024 | 94 replies
Unfortunately 10 units proved to be too much for my property manager at the time to handle, (a mix of them being bad at their job and also that they were just shady) which slowed me down and I had to do some damage control before buying more.But the mix of different strategies and partnerships for financing taught me a ton and helped me learn firsthand how they work, so I don't regret a thing!
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20 October 2024 | 14 replies
It might even be sell at a loss and just move on rather than chasing bad money with good money.
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20 October 2024 | 84 replies
Ramsey's advice is really only helpful for people who have a lot of bad debt IMO, or who live beyond their means and need more financial discipline.
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18 October 2024 | 12 replies
A few specific recommendations: Do not use Dave Kaiser for your GC and I had a bad experience with Desert Beacon for cleaning/mgmt services.
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20 October 2024 | 8 replies
Also it's costing me about $1,000 per month to hold this property, which isn't that bad but isn't nothing either.
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18 October 2024 | 6 replies
The ARVs will be high by using bad comps and the rehab estimates are almost always super-low.