Timothy Lawrence
House Hacking Advice (Washington D.C, Nova, Baltimore Area)
8 January 2025 | 11 replies
For example, more downpayment means less interest rate regardless or whatever loan.I am trying to see what sort of action I can take right now so I can plan detailed and measured steps to my goal.
Michael Poloncic
Tenant breaking their lease
9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
Taylor Hughs
Scaling: Why should I buy single families first then multifamilies later?
7 January 2025 | 8 replies
I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.
Zachary Young
Where To Buy My First Rental Property
24 January 2025 | 55 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!
Jason Allen
Subletting Expense deductions
3 January 2025 | 2 replies
I prefer not to do this just because of recapture when I sell the property.If I phrased anything in a confusing way or more details of necessary to answer, please feel free to ask me any questions.Thank you so much for any help or direction you could give me
Collin Luckett
Raising Money / How to Structure
9 January 2025 | 9 replies
Keep in mind all this stuff is uber regulated, very detailed, far from simple.
Deborah Wodell
How Do You Keep Rehab Costs Under Control on Your Flips?
4 January 2025 | 4 replies
Make sure the estimates are very detailed (scope, SF, $/sf, schedule, etc) to ensure that there is a clear dilation between contract work and change orders.
Nicholas Halterman
What is the next step?
1 January 2025 | 3 replies
There are a lot more details that go into two VA loans and the downside but transitioning into a conventional loan on the investment refinance will save you a lot of frustartion down the road.
Nate McCarthy
Multi-party investing deal structure for BRRRR/House hack
19 January 2025 | 14 replies
A CPA familiar with real estate partnerships could clarify the implications for everyone involved.A great attorney or CPA can help you iron out the details and ensure the partnership benefits all parties fairly.