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17 January 2025 | 11 replies
This will also allow you to avoid taxes on the sale.
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20 January 2025 | 3 replies
Say they sold the properties over 3 year period and could not sell the rentals together as a portfolio.Could they put the money from each sale into a DST then use the total to buy a expensive rental property?
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26 January 2025 | 5 replies
What I usually see is that they start with the average $/sq.ft of the sales price in the area.
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5 February 2025 | 0 replies
Purchase price: $77,000 Sale price: $85,000 Contributors: Peter Vekselman Partner Driven teamed up with Jamari Sprueil to secure this off-market deal in Decatur for $77,000.
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23 January 2025 | 2 replies
Usually in the year following your purchase, the property appraiser will reevaluate the house based on the new sales price.
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29 January 2025 | 0 replies
I wanted to be able to help educate people, especially the underserved community, about real estate, whether buying, selling, and assisting with the process of foreclosures and short sales.
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
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23 January 2025 | 5 replies
Buy a lot and build a house for sale in 2026.
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24 January 2025 | 4 replies
.- Review the loan documents, there is most likely a due on sale clause, which is why you won't find a title company to process these for you.
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7 February 2025 | 3 replies
It’s awesome to see your excitement for real estate investing, and congrats on your first land sale, that’s a great milestone!