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19 July 2024 | 2 replies
I talk with some of these connections on a weekly basis in discord, so just listening to them, I'm able to draw inferences and learn about trends in sub-markets in western PA.
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20 July 2024 | 4 replies
every person who builds a house or a commercial building has to do so with 25% equity to get it financed with a bank. there is absolutely value in new construction. the hard part becomes making sure your architect knows how to design a building that can make money. but saying you don't know how to is a little silly it's the same idea as existing but ground up you just study the market and look at land more than you do anything else. you can build a house anywhere but you want to do it in better areas. it's either than or higher density's smaller floorplans, etc
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20 July 2024 | 2 replies
Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.
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19 July 2024 | 0 replies
My main goal is to identify an opportunity that can be scaled from a couple of spots to a dozen, to several dozen eventually without the need to completely re-design or re-engineer the layout without respect to providing utilities.
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19 July 2024 | 16 replies
I have quite a few clients who self manage their vacation rentals from the mainland.Here is info directly off state of Hawaii website pertaining to vacation rentals (bold in mine): If you’re off-island, you’ll need to designate a local contact who resides on the same island as the transient accommodation.
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18 July 2024 | 3 replies
Here’s a quick breakdown of your options:Option 1: Sell and Buy Cheaper House with CashPros: No mortgage, no interest payments.Cons: Older homes, more repairs, possibly worse neighborhoods.Option 2:Use Proceeds as Down Payment on Better HousePros: Newer, fewer repairs, better neighborhoods.Cons: High mortgage interest rates, higher monthly payments.Option 3: Refinance and Rent Out Mobile HomePros: Rental income, keep property, can still buy another home.Cons:Landlord responsibilities, high refinance interest rates, market fluctuations.Consider market trends, rental demand, and your financial goals.
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20 July 2024 | 7 replies
Keep up with local foreclosure auction schedules and market trends, regularly watching auctions and monitoring pre-foreclosure listings to identify potential deals early.
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19 July 2024 | 3 replies
BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.
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18 July 2024 | 2 replies
Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time.
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19 July 2024 | 100 replies
Represent the buyer's interests by designing an offer?