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27 January 2025 | 9 replies
A $400-500K mortgage is not a trivial payment plus property taxes on top of running your own house.
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29 January 2025 | 2 replies
Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities.
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5 February 2025 | 21 replies
This can complicate claims payments for the named insured/tenant.
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18 January 2025 | 10 replies
Maybe a better question would have been if you know how much money you have for a down payment on a property?
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5 February 2025 | 8 replies
So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.
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3 February 2025 | 3 replies
The key will be to set up terms so your monthly payment works.
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29 January 2025 | 9 replies
Do they require payment on site or do they give you a certain number of days to close the transaction?
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20 January 2025 | 6 replies
As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.
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21 January 2025 | 4 replies
I’m close to saving up for a down payment but it’s taking forever!
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11 February 2025 | 20 replies
Easy Street is a good option BUT you need CASH in liquid checking/savings for down payment of 20% and BIG chunk 2-3 times loan amount to buy out of a prepayment penalty.