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13 January 2025 | 5 replies
., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.
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12 January 2025 | 8 replies
Dig deep into tax strategy, tax efficiency, etc Learn about estate planning.
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11 February 2025 | 22 replies
Boilers are usually more efficient, in addition to gas vs elec debate.
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22 January 2025 | 0 replies
*Another Exciting Development in Charlotte*The Iron District is set to break ground next year (address 905 w morehead st.)The Iron District's strategic location offers easy connections to Uptown, South End, Wesley Heights, Freedom Drive, Camp Greene, I-77, I-277, and Charlotte Douglas International Airport.
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11 February 2025 | 167 replies
A lot of the analysis I've seen on this fails to point out that a lot of bitcoin addresses with a ton of bitcoin are actually owned by exchanges where they could potentially be shared among thousands of people.
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1 February 2025 | 9 replies
Even competent 3rd party management can only mitigate, not necessarily address many of the issues that arise when owning lower tier properties & population growth alone is not a magic pill.
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23 January 2025 | 9 replies
Additional Resources to check, 'FYIs', in case you want to learn more about rezoning in the future)-Look up your address on the city's zoning map here to see how properties in your immediate vicinity are zoned.
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30 January 2025 | 7 replies
Hello everyone, I am reaching out to the BP Community for suggestions.My Portfolio100% owner of 7 SFH PropertiesGP in about 30 SFH properties(of which I own somewhere between 25% to 50%)All but two properties are managed by a PM CompanyNet worth of the above is about $2,000,000 - $2,500,000My IssuesI have many SFH's - Which take up time(Currently spending time paying property tax and insurance, requesting quotes on insurance policies and overseeing the PM Company(approve rent increases, approve renovation projects, etc).They also take up head-space(having to remember property addresses, remembering when property taxes are due)(I have reminders/systems but something I would like to reduce)Goals1) Spend less time on Real Estate2) Free up head-space2) Make $240,000 annually from real estate(Which I think is not to hard if I can increase my net worth and can get an 8% return)Possible Solutions1) Sell all the SFH's and buy 4-Unit Properties to take advantage of conventional financing2) Sell all the SFH's and buy one large apartment complex3) Sell al the SFH's and invest in syndications4) Sell all the SFH's and purchase stock / bonds5) Continue to hold all the SFH's6) Any other suggestionsOther Considations1) Should I consider private notes?
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27 January 2025 | 13 replies
While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties.
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21 January 2025 | 10 replies
When you look them up make sure the owner isn't a LLC and that there primary address is not the same as the property you where looking at.