
20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

20 May 2024 | 3 replies
Person B is the money-partner - will put up 100% of cash for the deal (ie. no financing).

20 May 2024 | 19 replies
Regarding the LLC (let's call this Business B), my idea is to use the LLC to build business and corporate credit cards that I'm not personally liable for.

21 May 2024 | 8 replies
This way is much slower, but is more comfortable b/c it doesn't involve having to move

21 May 2024 | 53 replies
Either a) They are a “partner” to some extent or b) They will still want 20-30% down.To me, option B is a waste of time and money because I’ll still have to refinance to get my money out to do another deal.Option A would be fine if you can find someone to just put up money, collect their payments, and let you continue rolling it into future deals.

21 May 2024 | 138 replies
The solo 401(k) is one of them. 401(k), 403(b), 457(b) are also QRP.

20 May 2024 | 10 replies
Couple of different ways to do that:)Many parts of the USA don't have cashflowing Class A rentals currently.So, recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

20 May 2024 | 27 replies
I’ve gotten other opinions that it was a B-, c+ area.

23 May 2024 | 36 replies
., B.

19 May 2024 | 6 replies
If I am also pre-qualified/approved with two other lenders, B and C, and lender A denies financing, can the seller see that I am approved with other lenders?