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3 December 2024 | 3 replies
Probably a little better fit than Mint since there are no ads and minimal cost with some better features.
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5 December 2024 | 5 replies
Since you and your wife have renovation skills, targeting properties that need minor improvements can maximize your return on investment while minimizing the time and cost associated with major renovations.
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5 December 2024 | 31 replies
This minimizes risk and lets you build confidence as you gain more experience.
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4 December 2024 | 6 replies
Start small by buying a duplex or single-family home with minimal renovation and in good rental areas.
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8 December 2024 | 26 replies
However:Capital gains taxes can be minimized through deductions like rehab expenses, holding costs, and agent fees.Alternatively, if you decide to keep the Mooresville house and rent it out, you could potentially defer capital gains taxes through a 1031 exchange, but this only applies to investment properties (not primary residences).
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4 December 2024 | 25 replies
We have minimal resources as far as money goes, but we have a relatively long list of upgrades (window treatments, hardware, light fixtures, paint, etc).
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2 December 2024 | 2 replies
Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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1 December 2024 | 3 replies
Additional Details:The property is in a desirable area with good amenities nearby.STR data from AirDNA shows decent revenue potential, but the lack of comps makes me hesitant.I’m looking for a balanced approach that minimizes risk, even if STR performance doesn’t hit expectations.If anyone has experience investing in Cincinnati or navigating markets where STR data is sparse, I’d love to hear your thoughts.
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3 December 2024 | 19 replies
Google search.Ability to buy multiple properties with minimal capitalYou'll need multiple properties to replace your income.
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5 December 2024 | 20 replies
Staying in front of things will give you & your tenants more peace of mind & minimize problems on back end.