Keira Hamilton
5 Lessons Learned From Selling My Laundromat
13 January 2025 | 2 replies
Shouldn’t it be at a lower multiple?”
Allison Littman
"Church" Purchase Creative Financing
11 January 2025 | 7 replies
Looking for any creative input on how something like this could be structured.Taking part of the purchase price of real estate as a charitable donation and using said deduction to lower your taxes is tantamount to sending a cover letter to the IRS with your return requesting an audit.
Julie Muse
Outlook St: Quick Flip Success in Mission, KS!
13 January 2025 | 1 reply
This transaction highlights our ability to identify and execute quick, profitable deals with minimal holding time.
Conte Cuttino
Leave 100k and rent or Flip for 30k
9 January 2025 | 10 replies
If you sell the property, a lot of the $107K cost will be eaten up in transaction cost.
Ken M.
Creative Financing and Some Things To Know
13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
Don Konipol
What Does it Take to Achieve the Dream of Full Time Real Estate Investor?
12 January 2025 | 0 replies
Without a firm base and working familiarity with these three areas the investor will not have the knowledge to analyze, negotiate and close advantageous real estate transactions. 2- Experience - the first few deals are likely to be smaller, harder, with more “surprises” and not as profitable as the investor imagined.
Nico Banuelos
Hello BiggerPockets Community,
9 January 2025 | 2 replies
Congratulations on your impressive success since 2021—that's quite an achievement to have closed over 100 transactions in such a short time.
Ethan Borshansky
Can you 1031 Exchange into capital improvements?
2 January 2025 | 5 replies
You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.
Adam Oldham
Is Wall Street Crowding Out Indianapolis Home Buyers?
23 December 2024 | 8 replies
Doesn't that help keep property taxes lower or the owner-occupants.If 5% of the properties are being bought by investment companies, that means 95% are not.
Jeremy Beland
The Crazy Title Issue That Almost Ruined Our Deal – But We Got Creative!
13 January 2025 | 0 replies
She had no connection to the property and no personal stake in the transaction.