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18 February 2025 | 9 replies
Be mindful that there are rules that the lenders want you to check off.Furthermore, there are other rules on the tax side where you want to normally be under to get the most tax benefits.The magic number in both instances is '14 days'Lenders want you to stay atleast 14 days to meet the secondary home requirement.The tax accountant normally wants you to stay less than 14 days or 10% of the days it was used as a rental to treat it as a rental and not as a personal residence.Best of luck!
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1 February 2025 | 16 replies
Congrats on getting started on your journey.
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6 February 2025 | 7 replies
Still tons of deals that hit the 1% rule and positive cash flow here and you get amazing appreciation potential.
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31 January 2025 | 6 replies
Before seeking financing, I would advise getting an LLC setup right away since without a SS# it takes longer to get an EIN number from the IRS.
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3 February 2025 | 1 reply
We priced it significantly below current market value and could probably be getting at least another 500-1000 a month more for the unit.
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8 February 2025 | 12 replies
There are ways of buying a property to get around seasoning time requirements.
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2 January 2025 | 9 replies
In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.
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3 February 2025 | 2 replies
They specialize in getting the most out of real estate investing.
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27 January 2025 | 2 replies
Get a job in property management.
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3 January 2025 | 7 replies
The seller does get benefits, but they aren't necessarily financial.