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31 January 2025 | 23 replies
I don't recommend throwing the baby out with the bath water, and definitely make sure you understand the nature of the Mentor you choose.BP is a great resource to meet some amazing people.
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2 February 2025 | 6 replies
If anyone has recommendations for what they've been using and like, we would appreciate it greatly as well as any tips you may have for us!
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7 February 2025 | 3 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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4 February 2025 | 10 replies
Some will follow staff recommendations almost all the time .. others will not..
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15 February 2025 | 11 replies
Any insights, experiences, or recommendations would be greatly appreciated.
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12 February 2025 | 3 replies
@Daniel Ruby I have several that I can recommend.
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14 February 2025 | 9 replies
Consulting a CPA or tax attorney is strongly recommended before proceeding.This post does not create a CPA-Client relationship.
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16 January 2025 | 2 replies
Have you sent your material list to a supply house to be quoted, have you arrived at a quote with your subs?
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4 February 2025 | 8 replies
Thanks everyone for your recommendations.
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8 February 2025 | 13 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.