A LOT of distrress is leading to mergers and firings, in just the last few weeks, this happened: (Big credit to @NewsLambert)Lower to acquire Universal Lending retail and wholesale operations (11/1/23)Trustar Mortgage acquired by Archer Mortgage, LLC (11/1/23)People’s Bank of Commerce to exit residential mortgage lending (10/27/23)BMO Bank cutting 228 jobs in Northern California (10/25/23)Homestar Financial to wind down operations (10/25/23)City National Bank layoffs in Los Angeles total 71 (10/23/23)Hometown Lenders layoffs (10/12/23)First Savings Bank to lay off 135 mortgage workers (10/4/23)Wesley Mortgage absorbs competitor Colten Mortgage (10/4/23)Cenlar to lay off 85 in Ewing, NJ (10/2/23)Rithm Capital to acquire Computershare Mortgage Services Inc. (10/2/23)Wells Fargo cut 525 jobs in South Carolina (9/28/23)Better Mortgage lays off additional employees (9/22/23)The Graystone Company has acquired Direct Mortgage (9/13/23)Flyhomes to purchase certain assets of Home Sale Assured (9/13/23)Divvy Homes to cut 95 jobs in San Francisco (9/11/23)Farmers-Merchants Bank to sell three branches to focus on core mortgage business (9/11/23)It goes on…..The mortgage industry is in a starkly deep recession.And RIP refinances, unless you are holding an even higher interest rate loan (like a construction/bridge loan or hard money, or perhaps you just fixed your credit.

The holder of the note makes no real difference; in Jane's case, it might be more advantageous to her to hold the note than sell outright depending on how she can absorb the sale from a tax perspective; in your case you don't have enough income to do a conventional loan so getting a seller carry can give you more properties.

Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

if you have cap gains in 2024, or in the coming years, you might want to consider simply "abandoning" your interest in the LLC, which allows you to take the loss in the year you choose..For example, if you have cap gains of $50,000 in 2024, you might want to "abandon" a some or all of your Membership interests,  which give rise to a loss which will absorb the gain.  

Im absorbing all the knowledge the regional leaders and guests have to offer on zoom calls and trainings.

As a newcomer to both real estate investing and BiggerPockets, I'm here to absorb as much wisdom and advice as possible. 

Get practical knowledge, absorb insights from seasoned investors, and dive deep into partnership opportunities that can help you elevate your game.Together, we'll create a powerful community of active investors, a group of passionate, experienced individuals who aren't scared to make their mark in this rich business.

As a newcomer, I'm here to absorb knowledge, connect with seasoned investors, and explore the diverse strategies available.

Just lucky I was able to absorb it, keep going, and make more than I've lost. 

To begin, go cautiously, absorb knowledge from every encounter, and adjust your strategy in response to input and outcomes.