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22 March 2024 | 15 replies
My team has been dominant in this area for years, but with the strong appreciation the last two years the numbers just don't work anymore (normally).
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23 March 2024 | 15 replies
They normally buy between $750k and $1.3 to sell at $1.3 to $2mil+.
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22 March 2024 | 9 replies
As Bill said, you'd technically need to remit market interest of ~5-6% to avoid a related party transaction, but since $100-120 would be vastly below their annual exclusion amount, you can just say that any interest that would otherwise normally accrue would be considered a gift to you.
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22 March 2024 | 10 replies
Normally, anything at a bar and for real estate investors is a good networking venue (also drinks can be tax write-offs).
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22 March 2024 | 3 replies
This is a pretty weird question, I know, but I am curious.I get that you can do deals pretty much anywhere, and there are good deals all over the country, but I don't believe that the markets are equal in this regard.For example, if the seller has the ability to look at your credit as an investor (which throws out one of the sole purposes of doing a seller finance), versus states/markets that don't require that as much, I would like to know the states/markets where owners checking your credit history is not going to be prevalent in a deal, assuming the seller is willing to do this kind of deal with you.For context, yes, I am a new and aspiring investor, and due to certain circumstances, my credit is currently not the best, but I don't want that to stop me from investing in real estate (which is why I'm leaning to using seller financing).Please no answers saying that I should just raise my credit score and get an FHA/Conventional loan, because I am currently working on raising my credit, but I can't give a time on when my credit will be "back to normal" again, which could mean I could be stuck on not qualifying for a loan for the next couple of years (ain't nobody got time for that).Thanks for the help!
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22 March 2024 | 6 replies
But if it can appraise like a normal house (bedroom count, sq ft. etc) then there shouldn't be too many problems for securing a mortgage on it.
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22 March 2024 | 5 replies
I think it will be messy at first and eventually, the industry will fall into a new normal.
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23 March 2024 | 20 replies
If you want to stick with $500k work towards buying 20 and paying them off, switch to MTR or STR but that’s closer to working than I like, or as much as I hate the idea buy 5-10 with cash from your retirement accounts and the other 5-10 like a normal person.
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22 March 2024 | 5 replies
This cheap money approach was the main reason for inflation that forced the Fed to increase interest rates in order to bring the inflation back to normal.