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18 December 2024 | 9 replies
Having two people paying rent, but only one living in the house is not ideal unless both understand clearly they are liable.
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13 December 2024 | 20 replies
You should also be aware to make sure what was provided does or does not meet industry standards.
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19 December 2024 | 13 replies
I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.
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19 December 2024 | 25 replies
It is my understanding that a CPA is only responsible for making sure you follow all the laws when filing taxes, but there is another role that is responsible for tax strategy and focuses on tax savings.
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16 December 2024 | 6 replies
I self-manage, but I understand that's not a practical option for most people.
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16 December 2024 | 6 replies
We managed to navigate it, but it was a lesson in the importance of understanding both federal and state regulations.Given your location in Boston, Massachusetts, it's especially pertinent to consult with a qualified intermediary or tax professional familiar with both federal and Massachusetts state laws to ensure a smooth exchange process.
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17 December 2024 | 9 replies
The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).
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16 December 2024 | 7 replies
I do understand that market value becomes what has been paid for a deal but with minimal work and renovations my deals almost always significantly increase in value in the first 6 months.
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18 December 2024 | 9 replies
Start by researching areas that fit your goals, understanding financing options like FHA loans, and using the 1% Rule to evaluate deals.
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10 December 2024 | 0 replies
We were able to get standard mortgage financing How did you add value to the deal?