Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

Hi Konstantin,But if the LLC is a one man show, I understand that it does not protect my assets in any such way.Forgot to add also that if I want to refi from within an LLC, I would have to transfer it back to my name if I am not mistaken.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Sorry I was mistaken about the short sale process.

hello iam new to biggerpockets n I am trying to start out flipping houses I am unemployed n I need to make some money but I also don't want to make a big mistake n mess myself up so I am asking what the first thing to do to get started then what after that I am single mom n its only me that's doing this with no help n really want to do this but don't know anything n what to do I have try so many different things n they all been scams.

House hacking and FHA is the way to go and you can do an FHA up to 8 times if I'm not mistaken.

If I'm not mistaken with an FHA loan you need to live in the home for a certain amount of time before you can rent it out.  

I might be mistaken, but my understanding of the 1031 exchange (I just did one), is that if the relinquished property can be classified as personal residence (allowing for the residence exclusion), it would not be allowed for a 1031 exchange.  

That means 75% of gross income must cover PITI.I’m not a mortgage broker so someone please correct me if I’m mistaken or thinking of a different program.