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19 February 2025 | 9 replies
Connecting with a local expediter or a GC who regularly pulls permits in the area can help you navigate this quicker.3️⃣ Financing & Appraisal Risks – Depending on how bad the foundation issues are, lenders may be hesitant or require additional conditions.
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9 February 2025 | 10 replies
If your willing to do so, you can live in the casita and then rent out the main home and have your tenant pay the majority/all of the mortgage (depending on what type of deal you find obviously).
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10 February 2025 | 11 replies
If your properties are all located in CA I would advise looking in states like IN, OH, FL, TN, OR, GA and a few other states depending on comfort zone.
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10 February 2025 | 8 replies
Depending on the fee schedule and activity this can cost significant transaction fees and always includes some red tape and extra processes to go through.
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19 February 2025 | 32 replies
Some general pros v cons - I'm sure other people will provide other insights as wellPros: -Above market rents- Monthly rent payment on time that you don't have to worry about or chase anyone down for (if full pay)- No shortage of tenants depending on your standards - Tenants are incentivized to not trash/destroy the unit, otherwise they'll lose their voucher (Yearly inspections made by local S8 inspectors to keep everyone honest- Rental payouts are normally adjusted 1-2 times a year to keep up with market rentsCons:- May take a little while to get onboarded - dealing with local govt can always take longer than expected - Generally won't have a super high credit score (to be expected given it's the govt paying for rent)- Each unit will need to be inspected and meet a certain living standard in order to be approved for fundingYou'll want to make sure you work with a property manager who has extensive experience in working with S8.
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10 February 2025 | 13 replies
This can provide additional capital for future investments and get the next one.Or evaluating other loan options:Depending on your long-term plans, you could explore conventional loans or portfolio loans that might offer more favorable rates or terms with the new appraisal value factored in.Your decision depends on your broader strategy.
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27 January 2025 | 6 replies
Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.
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9 February 2025 | 6 replies
A CPA who specializes in partnership issues can also likely talk through these issues with you.3) Depending on the size of the deal - Keep It Simple - the number of really complex agreements that come across my desk for a $500k property is crazy, and it ends up costing as much to do those tax returns as a comparable $5m deal
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31 January 2025 | 6 replies
@Jared Smith it depends is pretty spot on!!!
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17 February 2025 | 15 replies
Airbnb and VRBO are popular platforms, and corporate rentals or mid-term rentals like on Furnished Finder could also be an option depending on demand.