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1 October 2024 | 5 replies
Citizens is normally the lowest and I have the far majority of my policies with them.
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5 October 2024 | 7 replies
You also asked if you should put your own house into an LLC.Yes, I think getting a Home Equity Line of Credit is a great way to get access to that equity and only use and pay for what you need.Putting your own house into an LLC may affect your ability to claim homestead taxes so you may not want to do that and may also affect your home insurance.However, putting your fix and flip into an LLC can reduce your liability exposure but make sure you also have the right insurance on the property while it is being worked on.
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3 October 2024 | 15 replies
That said, it can be done and done successfully if you plan in advance, build your team (contractors, subs, back ups, lenders, credit with suppliers, escrow/title, real estate attorney, mentor, etc.) get educated on finding (marketing) for deals, rehab costs, locations, market data (like crime rates, school ratings, population growth, job growth, etc), specific market insights like what is most popular and sells for the most in your area, etc
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3 October 2024 | 1 reply
For criminal background checks, services like TransUnion SmartMove, RentPrep, or MyRental are commonly used and provide comprehensive reports that include criminal history, credit checks, and eviction history.To verify how much they make, you can request recent pay stubs, bank statements, or tax returns if the tenant is self-employed.
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4 October 2024 | 5 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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2 October 2024 | 11 replies
We still ran credit, to check for evictions and to see address history.
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4 October 2024 | 5 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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4 October 2024 | 3 replies
It involves building credit and saving to secure better financing deals.
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30 September 2024 | 10 replies
My thought process with going FSBO is my market research tells me my condo is in high demand as it is the lowest cost to home ownership (starter homes are going 250K+ condo will be 140ish) and in the last 6months 3 similar have sold going contingent in less than 2 weeks.
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4 October 2024 | 2 replies
The only time we ever have a leverage cut is if the appraisal comes back rural, market rent is significantly less, or the credit score dropped under 700.