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9 June 2024 | 6 replies
If you can only be 50% you'll have to secure your additional 1/4 some other way (and there are lots of ways).The only problem I see with your plan is the condo conversion.
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8 June 2024 | 17 replies
Thats simply a good experienced agent doing proper representation for their client.Experienced agents know that many wholesaler dont close and that really negatively affects the listing and the sellers giving them false sense of security that they have a real deal.1.
8 June 2024 | 4 replies
My worries are the interest rates will remain elevated so securing another 6% interest rate on a property might be tough to do anytime soon.would love some advice, thanks!
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10 June 2024 | 39 replies
This means you aren’t on title at all as the vested owner and you can’t obtain secured financing
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8 June 2024 | 21 replies
, what made you feel secure taking the leap with hard money and going after that first flip.Partnering with an investor or doing seller financing would be ideal, but I'm still growing my network by cold calling other investors and real estate agents and attending local events.
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5 June 2024 | 5 replies
I don't see why I would for the squatter but I want to make sure they don't have some way of coming after me in court.Also what is a good security system people use for flips?
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8 June 2024 | 1 reply
I've also had it suggested that I should use my land to secure a loan under 100k, given my debt.
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8 June 2024 | 1 reply
These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.
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5 June 2024 | 4 replies
She moves in mid-June so I collected the Security Deposit and First month's rent ($1200 sd + 800 for the 1br).
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8 June 2024 | 4 replies
Quote from @Daniel Okeefe: It could be a simple typo in the social security number or something else on the app.