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14 June 2024 | 25 replies
From personal experience, MLS deals are much less lucrative given their higher price points (typically).With respect to financing, you can talk to any of the hard money lenders on this site for different financing programs they offer (some are tighter with someone who has not yet executed a flip), you can take equity out on existing properties you have, you can use private loan from a friend or relative.
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15 June 2024 | 17 replies
Is this someone using an AI Chat program?
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12 June 2024 | 3 replies
Use caution as an anything not functioning or highlighted for repair will need to be disclosed.
12 June 2024 | 11 replies
A number of people have asked this and if you use the search function, you can see replies to those posts.
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12 June 2024 | 4 replies
I can quickly create bank accounts for each property, the categories for tagging your transactions align perfectly with your Schedule E for taxes and I can do all of my tenant related functions like tenant vetting, lease creation and collecting deposits and rents.
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11 June 2024 | 46 replies
No need to guess, I proved it beyond a reasonable doubt on my Page 1 reply (Chat GPT4's estimate on the ARV is exactly what RedFin's site has): If your main goal is identifying lower-than-market value properties (for example you see a newly listed SFR for $400k, your program sees as-is value should be $500k, and renovated value should be $650k, so you get notified), you need to build out sales comping functions/algorithms and make sure those work reliably.
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12 June 2024 | 2 replies
Yes, you can use FHA and Conventional program for a primary home if you are buying a "Distressed" property - (Will not pass an inspection) "Subject to"> FHA offers a 203K loan and Fanie Mae offers a Home Style program which has the sole purpose of working with distressed properties.
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12 June 2024 | 1 reply
Some programs may allow for up to 85% financing assuming great credit and meeting reserve requirements.
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12 June 2024 | 14 replies
starting out I use excel, as I grew I used quickbooks but there are many other programs out there that can track this for you.Regarding left on mortgage, I just left that with the lender and the digital statements but many times that is like watching the grass grow - especially if its a 30 year mortgage...
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11 June 2024 | 1 reply
All Banks & Lenders are different as well as which program you used to buy the home.