Stephanie Menard
Expensive lesson by leaving one clause out of rental agreement
19 January 2025 | 41 replies
Cops all the time do everything they can to not investigate crimes.
Ken M.
Creative Financing and Some Things To Know
13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
Jonathan Small
50% Rule vs DSCR > which do you use to calculate a good rental
15 January 2025 | 4 replies
The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property.
Rene Hosman
How much time do you spend prepping for taxes?
14 January 2025 | 28 replies
I have already received my preliminary documents from her for my accountant.
Eli Edwards
Course feedback or insight from Vetted Homes
19 January 2025 | 7 replies
Their lease is 6 month term with a same rate month to month however, their insurance states the rebuild of their home and fire investigation efforts are going to take 12-18 months.
Anita Z.
Real Estate Investor Tax write-offs
10 January 2025 | 16 replies
Travel costs to look at other properties.If you travel but have not identified the property that you want to buy yet, the cost is considered an investigating cost.
Drew Mullin
New Orleans fix and flip market?
8 January 2025 | 10 replies
Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating.
Danielle Levy
Filing lawsuit against property management company
21 January 2025 | 19 replies
That will typically generate a response from the PM to negotiate a settlement and avoid an investigation.
Kelly Taylor
Recommendations for a Self-directed Roth IRA Custodian - Equity Trust anyone?
6 January 2025 | 11 replies
I had a long conversation with Equity Trust today, and I'm almost ready to move forward with them, but upon further investigation they seem to have some pretty negative reviews.
Account Closed
Courses that teach RE title searching process
4 January 2025 | 7 replies
I have been searching for (preliminary) courses.