K James
ADU Project - Spend $30k On New Sewer Improvements Or Install Sewer Injection Pump?
19 May 2024 | 8 replies
we were only 10 days over schedule (we allocated just under 2 months) which is remarkable considering the various issues we encountered and the size of this rehab (we removed 4 walls (including a load baring), added 1 wall, added new bathroom, redid kitchen and existing bathroom layout, (new locations on shower, toilet, and vanity) removed a door, added 2 windows, new flooring throughout, and added an eyebrow porch.
Bukka Levy
Using business credit cards to fund buy and hold. Help?
21 May 2024 | 53 replies
In the commercial & private money world its all fair game and case by case.Use of credit cards to purchase properties to acquire/capture equity, create, cashflow, provide additional tax shield/benefits against your income, and improve your real estate investing venture is definitely one way to go about it but it should not be the sole method since there are risks like many have mentioned above.If you're using business cards (linked to your FEIN - federal employer identification number) and it doesnt report to your personal credit then it might be more prudent credit wise because your Fico scores won't tank when you max a business card out versus a personal credit card (drop of 80-100 fico pts temporarily till you payoff).So with prudent timing (funds seasoning), knowledge of how to maintain your ficos so you still qualify for your cheaper conventional money, and how to use the cards to purchase can definitely expedite your REI journey.Most people I encounter would not have the know how to do it correctly as I see plummeting fico scores, in ability to qualify, and many other issues with using cards to invest on a weekly basis.Best of luck,
Troy Parker
Professional Painter or DIY?
20 May 2024 | 32 replies
One of the biggest mistakes I encountered in years doing remodels and builds was when a customer wanted to do their own painting to 'save a few bucks'.It was a disaster - every. single. time.A pro painter is a huge plus to the finish fit and feel of any project, they are just too good.
Kevin S.
Question on Checkbook IRA
17 May 2024 | 13 replies
Provide a signed copy of the NoteThe investor should be identified as follows:For all investments: Client First Name Last Name>, legal owner via non-trust custodial IRA with AETBe sure to indicate % of ownership on title for multiple investorsSigning of documents:On a go-forward basis we will no longer sign documents.Due to the titling change, the account holder will be the only one that can sign the documents (with the new vesting)Excluded States:Because of a variety of issues we have encountered with the following locations we will no longer accept IRA investing real estate transactions in the following areas: The State of Maryland, The State of South Carolina, The State of New York, Cook County, Chicago, Illinois, The State of Georgia, The State of Florida.
David Chwaszczewski
Setting up a eQRP vs. SDIRA
21 May 2024 | 138 replies
In addition to great info provide by @Brian Eastman, following are some common fallacies encountered and, sometimes, widely disseminated.Qualified Retirement Plans (abbreviated to QRP and, for purposes of this post, includes "Solo 401k") are exempt from all UBIT.
Jerry Skefos
Website Idea: Investors can review their Lenders
16 May 2024 | 4 replies
I've personally worked with a handful of "investor-friendly" lenders, primarily on DSCR loans in recent years, and each time I've run into significant delays, lack of transparency about the process, have been fed the requirements in a piecemeal fashion (every few days there's a new random request rather than having it all organized from the start), and have even run into lenders who were substantially misinformed about the real estate industry or the laws that govern it on both a local and federal level.I think there should be a better site to encourage accountability by tracking how long it actually takes each lender to close their loans on average, and what unexpected hurdles investors encounter when trying to work with them.I can't seem to find such a site.
Calvin Hayward
How Much Do You Spend On Closing Gifts
16 May 2024 | 7 replies
Typical present varieties involve personalized items, helpful items, and encounters.
Ashley Wilson
Vertical Integration - Savior to Multifamily (MF) Investing?
16 May 2024 | 11 replies
Interest rates, insurance hikes, rise in real estate taxes, eviction delays, rising expenses and delinquency are just a few problems investors are encountering.
Marcus Clouse
Does hardmoney lender ask for building permit for spec home before you own the land?
15 May 2024 | 10 replies
Hml should not require that in advance. instead, if building new, reconfiguring, etc, something a municipality might not go far, they are perhaps looking for now security before purchasing. which of these sounds like what you've encountered?
Sariya Saabye
How do I buy this vacant property no one is claiming??
16 May 2024 | 13 replies
😜)Sometimes the money I bring may be enough to buy the whole place, sometimes it will be the deposit, but in either situation it makes it real.Second issue, Fear.The biggest fear I always encounter is the fear that the debt owed against the estate will somehow attach to him/her personally.I find articles from attorneys that most closely meet their situation and while explaining to them that, “unless they personally signed for the debt, they will never personally responsible for the debt.”