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11 October 2016 | 13 replies
I wish you luck in acquiring more rental units and I am sure we will cross paths in the future!
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16 September 2016 | 14 replies
The Roth portion of another qualified employer plan like a 401k, 403n, etc can be rolled over into the Roth portion of a Solo 401k.The solo 401k does provide the ability to do an in-plan conversion of tax-deferred funds to Roth status (with the corresponding tax implications), and allows for generous new Roth contributions up to $18K per year.A Solo 401k is exempted from Unrelated Debt Financed income taxation (UDFI) when using mortgages to acquire real property.
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19 September 2016 | 32 replies
If you acquire a property, from a Wholesaler, once the property is rehabbed and ready for the Retail Market, allow the Realtor that provided you the zip codes, to list the property for sale.
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15 September 2016 | 2 replies
It's taken about 45 minutes minimum to add each new property we acquire and older ones longer.
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14 September 2016 | 1 reply
My first property was financed via conventional loan and I will rent it out if I am able to acquire a 2nd property via FHA loan.
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15 September 2016 | 3 replies
Or at least have to have one or the other to be able to acquire property?
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15 September 2016 | 2 replies
At 80% LTV, this would give me a loan of $68k, enough to pay back the Home Equity Loan and essentially acquiring the property with only $2000 (Plus holding costs of Home Equiity Loan + extra interest to money partner). 85% LTV would be really nice as it would give me more wiggle room with extra unforeseen expenses/costs and perhaps need no money out of pocket.
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28 January 2017 | 21 replies
All of my properties are in Connecticut.So far:Triplex in New Britain- BRRRR complete and fully operational.2625 Rent Roll 100,000 acquisition 50,000 renovation, 140,000 refinance out 190,000 valuationDuplex in Manchester- BRRRR complete2500 Rent Roll 60,000 acquisition 60,000 renovation, 140,000 refinance out 190,000 valuation.Duplex in New Britain- Auction.com buy at the refinance stage.2475 rent roll 75,000 acquisition 20,000 renovation, looking to refinance out 120,000 for a 160,000 valuationDuplex in New Britain- bad foundation renovation done this month2400 rent estimation 85,000 acquisition 20,000 renovation, looking to refinance out 120,000 for a 160,000 valuationDuplex in Manchester- acquired from wholesaler half rented and in renovation2300 rent estimation 77,000 acquisition 20,000 renovation,looking to refinance out 120,000 for a 160,000 valuationBrand new acquisition:2300 rent estimation 70,000 acquisition 30,00 renovation, looking to refinance out 120,000 for a 160,000 valuationI will be documenting everything I can about the 6th deal as we go.
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16 September 2016 | 9 replies
You can either acquire the property, after the redemption period or gain your investment back plus 25% interest.
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15 September 2016 | 1 reply
Once acquired (currently rented at 900/mo w/ long term tenants) and I have appraisal done, I expect ARV to be around 85k.