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20 October 2024 | 32 replies
@Ndy Onyidoreplying your strategy on #3, I will add the following for you to consider.Most of these properties as @Rick Baggenstoss had mentioned are run down , townhomes, land lots.There may be additional liens on top of the tax lien, such as HOA lien. also with the townhome communities, some of them has rental % restriction; meaning the HOA only allows so much % used for rental. the rest has to be owner occupied.
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17 October 2024 | 7 replies
Condos can definitely be a less scary way for a newer investor to get started and grow from there.As Joe mentioned above, you will definitely want to add in the HOA fees and any other special assessments into your cash flow analysis.
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18 October 2024 | 5 replies
However, ultimately, the decision to keep or sell the property depends on your personal preferences and financial goals.Reasons to keep the fourplex:Established cash flow: You mentioned the property will cash flow around $675/month now and $1000/month when paid off in 7 years.
17 October 2024 | 2 replies
I've mentioned a few above, and I'm sure you'll discover others.Best of luck moving forward!
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17 October 2024 | 3 replies
I'm assuming it mentions a set closing date.
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17 October 2024 | 20 replies
@Joe S.This is a “know your audience” responseIf you are around a bunch of college professors and they are technical then yes you can pull out all the big words - but as you mention many will try and use these big words in a convo and they scream newbie because it’s apparent they lack some knowledge as they are creating word salad with what they say.I just tell people be yourself
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16 October 2024 | 3 replies
I believe you have a 45-day window to shop lenders without having a drastic hit on your credit score.Happy to recommend someone if you're still searching, shooting you a PM.Also, as @Rene Hosman mentioned, there is a service here on BP to link you with lendersAll the best!
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16 October 2024 | 3 replies
I've seen it mentioned a couple of different places but never with that level of detail.
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18 October 2024 | 1 reply
These pockets are more affordable while still convenient locations, and the new construction appeal mentioned for 27703 is something North Raleigh nor Cary/Morrisville can offer affordably due to being pretty built out.
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19 October 2024 | 16 replies
Like everything else, there are tradeoffs.However, you mentioned being in an area with students, so SFH's in your area may operate more like multifamily units anyways with higher turnover.