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16 October 2024 | 10 replies
- Measurements of all sheetrock, flooring, cabinetry, counter tops, etc that need to be replaced for estimates.We’re both ambitious but also realistic about the risks.
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15 October 2024 | 5 replies
It sounds like you've put a lot of work into this renovation.First, let's break down your options:### Selling the Property- You've estimated a potential profit of $58k, which is a significant return on your investment.- Selling now would give you immediate cash to reinvest or use for other purposes.### Renting the Property- With a projected rent of $1450, you need to calculate the Debt Service Coverage Ratio (DSCR) to ensure it's viable
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15 October 2024 | 6 replies
Go with your gut - it sounds like you have good instincts.
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14 October 2024 | 6 replies
I don't mean to sound rude or insensitive, it's just my outward observations.
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16 October 2024 | 6 replies
Consulting with an estate attorney who understands real estate investment structures can help ensure that your wishes are carried out efficiently.It sounds like you’re on the right track in terms of growing your portfolio, and refinancing into a DSCR loan under your LLC could be a smart move.
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17 October 2024 | 9 replies
It sounds like you will actually occupy the home in Washington for a majority of the year, and then travel to Aspen during ski season.
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14 October 2024 | 12 replies
It sounds like you're taking a thoughtful approach to real estate, and the BRRRR method could be a great fit for you as it aligns with your goal of generating passive income.
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11 October 2024 | 7 replies
It sounds like they are stalling for some reason.
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14 October 2024 | 3 replies
I’ve helped plenty of investors navigate these tricky tax and management questions, especially with properties in popular STR markets like Phoenix and Austin.Good luck with the purchase—sounds like you’ve got a great opportunity on your hands!
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16 October 2024 | 14 replies
They will charge extra for any extra work performed, but it could be much more beneficial than tying up that much equity in a partnership with someone you don't know.Also, if you ever do have a partnership, spend the money on the front-end with an attorney to get a sound operating agreement that makes the divorce less messy if it comes to that.