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4 December 2024 | 6 replies
I will be graduating with a degree in Digital Marketing and have been applying to jobs for a while with not much luck.
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13 December 2024 | 1 reply
Most people have a mortgage on their home when they sell it.
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13 December 2024 | 12 replies
That’s 3.5 years meaning it didn’t sell when the market was at its hottest.
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
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13 December 2024 | 32 replies
Ask anyone who ever tried to sell a cash flowing biz, it's not that easy (compared to selling a house)The best play IMO is to run a business and feed the profits into real estate.There are a million ideas, but you can start here: https://www.biggerpockets.com/biggerpockets-business-podcast Thanks for the suggestion Marcus.
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11 December 2024 | 13 replies
Pick 10 people that are in foreclosure, and ask them if they want to sell their house or keep it.Correct. 10 out of 10 will say: "keep it".Now pick 10 tax liens people from your amazing tax liens list.Same equation, Do you want to sell or keep?
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17 December 2024 | 22 replies
@Nick McCandless I would recommend doing your own DD on anything turnkey investors says to you in terms of cash flow, type of properties they sell, and their turnkey model.
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3 December 2024 | 1 reply
It seem like a great long term hold with the appreciation BUT I think selling would be ideal.
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12 December 2024 | 1 reply
If you have buyers ready, selling your contracts becomes much easier.- Be Transparent in Your DealsHonesty goes a long way in this business.
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3 December 2024 | 1 reply
Aha it seems like every time I sell one of mine its the time.