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20 February 2025 | 3 replies
The fastest legal way is likely to pay them to leave (only pay after they are out and if they left it in good condition).
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15 January 2025 | 8 replies
I'm advising folks to keep a close eye on Clay, Cicero, North Syracuse, the neighborhoods including and surrounding Eastwood, and the neighborhoods by the university.
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13 February 2025 | 5 replies
Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.
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19 February 2025 | 1 reply
Maybe another one is tenants may tend to stay longer as long as they are eligible for the program.Not 100% sure, but I don't think they always pay that FMR number.
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21 February 2025 | 10 replies
I only wanted to clarify that almost everyone who mentions their equity means “cash after paying off their loan”, not their gain.
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17 February 2025 | 13 replies
In Real Estate, TIME IS MONEY.Getting a rehab loan done quickly is worth paying an extra few points in order to be efficient as you will be able to expand your BRR business which would yield results greater than the increased cost of capital that hard money brings.In order to escape a scarcity mindset you need to understand that money is in theory unlimited, they print it.But can you print time?
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21 February 2025 | 2 replies
It seems like there's an issue at least once a month that I must pay for, on top of trying to budget to fix several leaks (roof included), radiator not working, no shower in one unit, etc.
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16 February 2025 | 7 replies
Firstly, you can save costs by paying your VAs directly.
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21 February 2025 | 59 replies
If these folks have skills and work ethic they will end up employeed start a business or some other Venture.
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17 February 2025 | 3 replies
I have a capital gain taxes question:if I sell my home for 510k and provide the seller 10k seller credit towards escrow costs, would I be paying capital gains taxes in California for that additional 10k?