Matthew Rensel
Having a Quad built - Advice needed!
3 December 2024 | 14 replies
Often times, I advise folks to start with HML or PML and the refi into a DSCR loan with a bank/CU when the property is stabilized.I am going to assume that a HML/PML loan would be at a higher cost/rate than a bank that would play ball, so I would prefer that if possible...
Glenn N.
Hard money lender ,borrower moved his LLC to Delaware without notification.
3 December 2024 | 10 replies
Would it be advisable to move my LLC from Florida to Delaware also in the event I need to go to court to recover the loan would an llc in Delaware be better?
Cole Farrell
Starting with a SFR is a mistake - prove me wrong
5 December 2024 | 6 replies
Start with your primary, rent out any spare bedrooms "house hack"Use that to practice upgrades, kitchen, bathroom, curb appeal... etcNow you have experience as a landlord and flipper, use that to buy a distressed propertyAdd 40% equity to the property through home makeover, refinance into a low cost mortgageNow you are cashflowing a healthy margin on a second property, use that to build equity over time, cashout later and buy your duplex/quad.If it's going to take you 10 years to save up a down payment for a small apartment building, yeah it makes more sense to start growing your portfolio with cheap SFR flips instead.Every market is different, every borrower is different, every property is different, it would be ill-advised to recommend anything without recognizing the individual's nuanced goals and objectives with their next acquisition.
Bridger L Logan
Any success with rent by the room?
15 December 2024 | 59 replies
I would strongly advise you get more than 2-3 bathrooms.
Henry Lazerow
How to cashflow on northside - Know the actual market rents!
3 December 2024 | 5 replies
Any advise on adding washer/dryers is a plus I know routing new drains can be tricky when trying not to get to invasive on a "cosmetic" job.
James Kerson
Would You Use A Discount Broker? Calling All Flippers/Investors
2 December 2024 | 2 replies
I’m making a few assumptions: 1) at least some buyers and sellers will accept much less agent handholding than commonly assumed, 2) the primary value that agents add is a) pricing guidance and b) advising clients on offers and counter-offers, and 3) there’s no truly compelling reason why North America has the highest average commissions in the rich world.
Jennifer Fernéz
Let's say you have $80K in your savings account...
19 December 2024 | 82 replies
If you can't find that in your local market then you may have to go to a higher price point but it means using more of your savings which I'm advising against.
Justin Pumpr
Experiened, but struggling REI - Advice needed
6 December 2024 | 9 replies
If your properties are all located in CA I would advise looking in states like IN, OH, FL, TN, OR, GA and a few other states depending on comfort zone.
Bryan K.
Long Overdue... 1st Home Purchase
3 December 2024 | 2 replies
If you’re okay with moderate negative cash flow as a "forced savings plan," that’s fine, but I’d advise setting clear boundaries on how much loss you’re comfortable with per year.
Eli Ling
one of my tenat send us this message
2 December 2024 | 7 replies
I also own another unit in the same building, and no other tenants have ever complained about inadequate heating.I’ve advised her to keep the heat on 24 hours a day, as the lease specifies that the tenant is responsible for paying for heating costs.