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28 January 2025 | 13 replies
Found an awesome deal on Craigslist and it allowed me to get my foot in the door with an investor (owner of the property I arbitraged.)
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29 January 2025 | 10 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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29 January 2025 | 18 replies
Quote from @Jamie Parker: Quote from @Carsyn Childress: I have searched Facebook groups, Craigslist, and meet-ups with little to no luck with consistent volume.
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3 February 2025 | 3 replies
Primary home is a little easier but for FHA and other programs it requires 12 months title seasoning.There is something called delayed financing that if you purchase a piece of land and pay for the home "All Cash" without a mortgage you can get up to 80% LTC.
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30 January 2025 | 7 replies
Little background behind the door: It's a MDF cheap one you buy at HD or Lowes.
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6 February 2025 | 3 replies
I learned so much along the way, including navigating the legal process needed to remove previous owners (squatters) who did not want to leave.
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26 January 2025 | 5 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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6 February 2025 | 27 replies
Quote from @Na Wilson: I have a source (depending on credit score) that can do a 90% LTV DSCR loan on non-owner occupied real estate.
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11 January 2025 | 9 replies
Ask to speak with some of their current owners and current/former tenants.
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7 February 2025 | 41 replies
Because the property tax as a non-owner occupied property is about 3-4 times the amount of a owner occupied property.