David Woodside
500 hour rule - material participation
15 January 2025 | 12 replies
I would not advise to steer clear of this test based only on you having a job.
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
13 January 2025 | 2 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
Katie Miller
If you use a CPA or Tax Professional, how did you find him or her?
15 January 2025 | 115 replies
(I am avoiding phone numbers and websites so this response doesn't get redacted)Good luck, Janet
Vivien Martin
New member from the Chicago area!
7 January 2025 | 16 replies
Based on some of the research done, I am inclined towards starting out with a small multi family investment property (2-4 multi family home).
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
13 January 2025 | 6 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
Amit Chugh
Section 8 Property
5 January 2025 | 5 replies
In that scenario Section 8 tenants are the least risky tenant base.
Austin Bull
AI and REI
29 December 2024 | 8 replies
My local cable, internet, cell and utility companies are already using it to field calls and answer questions online and phone.
Abrahm Dimmitt
Prop stream or Deal Machine?
15 January 2025 | 34 replies
When I drive for dollars, I just take notes of the addresses in my phone and add them to my propstream lists later.As for cash buyers, I don't think there's such thing as too many buyers on your buyers list, although you do only need one to close a deal.
Kyle Kulhanek
Retitling a property to an LLC - Chicago
16 January 2025 | 4 replies
Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.
Tyler Jahnke
Morris Invest Case Study 2.0
30 December 2024 | 819 replies
s review of Morris Invest is like reviewing Pizza Hut based on the phone call to order, and then saying they're awesome at pizza..... you need to wait for the delivery and actually TASTE the pizza before you can review.