James Mays
Inspection Report - How would this inspection report affect your offer?
7 December 2024 | 8 replies
Further Evaluation (Professional based)Comment 2: Yard wetComment 23/24/25/26/27: Electrical WorkComment 4/5/6/7/40: Glass repairs/sealedComment 28/29/30: Hvac repairsComment 49: Chimney inspected/cleanedRepair (Handyman based)Comment 3: Vegetation removalComment 12: Leaking hose bibComment 13: Sewer cap replacedComment 19: Door knob replacedComment 22: Replace all batteries in smoke detectorsComment 38: Replace clamp in sinkComment 39: Replace dishwasherComment 41/48: Dry wall prepareComment 44/47: Door repairHave you decided on a property manager yet?
Scott Trench
New Policy Idea: BiggerPockets to Send Wholesalers a $125 Bill For Every Solicitation
8 December 2024 | 14 replies
(Okay, I’ll back off on the family and friends.)When I dedicate 45 minutes giving thoughtful advice in response to a DM, and the person doesn’t even respond with a thank you, they should owe me $125.
Hemal Adani
Anyone has invested with Open door capital? How was your experience?
22 December 2024 | 105 replies
That depends, but you can see from a bunch of posts on here that so far you're getting shafted performance-wise because a bunch of people aren't getting any dividends during a time when they could easily be earning 4-5% or more in a basic bank CD.
Katharina Bormann
General non-responsiveness from tenants in adhering to agreement
10 December 2024 | 9 replies
After that they get a 7-day curable notice with a $45 posting fee.
Shawn Nofziger
Self fund first property or get loan?
9 December 2024 | 6 replies
I know some mentioned about developing banking relationships and I totally agree with that, so here is what you do. 1) Open a business checking account in the name of your LLC to hold the assets. 2) Deposit your cash into that account to fund the real estate purchases3) After owning for 60-90 days, talk with a local lender about a line of credit against the 2 properties at 60% LTV. 4) After about 30-45 days, have the line open to use if you need that liquidity that you used, but until then you are not paying 7% interest on nothing.
John Williams
Downside of the 1% rule...
23 December 2024 | 34 replies
Chart below shows last 45 years, about 14% in sp500 and 8.7% in rental income producing real estate, nominal not real.so maybe if the 1% rule is telling you that single family rentals are too expensive?
Marcus Welson
1031 deadline confirmation by QI/CPA & 1031 CPA recommendations
4 December 2024 | 2 replies
I'm trying to confirm the final replacement property identification deadline because the IRS issued a Disaster Notice that may extend my 45 day deadline.My qualified intermediary says they will not confirm the IRS notice applies or whether the 45 day date they gave me is overridden by the notice.
John Geldert
Looking to start a Real estate Meetup in the Poconos
10 December 2024 | 53 replies
We are in Downingtown, PA which is about 1:45 away, so not too bad.
Kyle Luman
Cash flow vs equity discussion in recent Podcast
13 December 2024 | 13 replies
But if you can buy a home in a better area that will appreciate 4-5% or more per year, you will usually still cash flow.
Kadeem Kamal
When to 1031 small portfolio.
4 December 2024 | 8 replies
You can use the 1031 to sell a larger unit that provides better cash flow while minimizing active management.You can either try to cluster those sales together so they close in a way that lets your replacement property be listed on each 45 day period and you close on it within 180 days of the first sale (the first exchange that will expire).Or you could do something like a reverse exchange where your Qi purchases the new property and holds it for you for up to 180 days while you sell all of your properties.