Their income is only 3X rent, they lack credit history, and the household is much larger, which could result in more wear and tear.

@Guillermo PerezPositives:- Equity Built: You now have $70K in equity, which is a solid result for your first deal.Cash Flow Potential: If the property rents well and covers your debt service while providing some cash flow, that’s a win.- Experience: You’ve successfully navigated a purchase, rehab, and refinance, which are the core components of BRRRR.Considerations: - Budget Overrun: Being $27K over budget highlights the importance of tighter cost estimates and contingencies.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

I'd be happy to show you around the calculators, I have seen people use the calculator results to bring to meetups and try to raise funds that way 

Directly withdrawing funds from a Traditional IRA before the age of 59½ typically results in taxes and penalties.However, one option to consider is using a self-directed IRA.

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

I still need to link up with a contractor and talk this out, but I'm wondering if anyone had examples where they put around $50k into a home and what the results were.