Taylor Jernigan
Best place to find actual private money lenders and not brokers?
7 January 2025 | 2 replies
Hi Taylor-You are looking to connect with private individuals who lend money on real estate deals and not looking to work with a broker but private individual lenders.You asked where to post your deals to attract these private individual lenders.Three thoughts on that:1.
Mike Sfera
When to get a property manager
9 January 2025 | 24 replies
So I said all of that to say... lol, Yes, I think you can absolutely find a PM that would help answer some questions, and I hope you find some kind individuals. :-) All the best!
Teslim Salami
Cash Flowing Rental Property
12 January 2025 | 5 replies
Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.
John Davey
Can you deduct interest (primary house) from a home equity loan to buy a rental?
3 January 2025 | 11 replies
The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.
Joseph Beilke
Costa Rica Info
11 January 2025 | 11 replies
Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.
Brad Roche
FHA 203(k) vs. Fannie Mae Homestyle Renovation Loan
13 January 2025 | 5 replies
Here's how they break down:Fannie Mae HomestyleMinimum Down Payment: 3%-5% (Primary Residence) & 20% Down (Investment/Second Home)Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: Per County Loan LimitsOccupancy Types: Primary Residence, Second Homes, and Investment PropertiesUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements (e.g., new roofing, foundation repairs)-Cosmetic Enhancements (e.g., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.
Travis Tamillo
Active duty turned Realtor
11 January 2025 | 13 replies
I am here to learn more about my own personal investments as well as seeking out learning opportunities from like-minded individuals.
Justin Silverio
BiggerPockets + Invelo - Here's what you get
9 January 2025 | 43 replies
Is this the starter or individual plan from invelo being offered with bigger pockets pro?
William Taylor
New to BiggerPockets Forum as an Agent/Investor! *New Member Introduction*
12 January 2025 | 5 replies
I'm currently building up capital for future ventures and properties that I find on market, as well as attempting to find the best brokerage where I can work under an individual who is already more established.
Mary Peale
Seeking Advice on STR Profitability & Strategic Adjustments for Year 2
14 January 2025 | 3 replies
Hi everyone,I’m looking for some guidance on improving the performance of our short-term rental, and I’d really appreciate your insights.