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22 January 2025 | 12 replies
As a would be individual landlord with just a one unit single family property I don’t know I can stomach the risk or withstand a financial assault resulting from an eviction process for a non-paying tenant (or tenants that do extensive damage).I am seriously considering bowing out and selling.
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20 January 2025 | 3 replies
Every bank at that time had way too many non-performing assets on its books.
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28 January 2025 | 19 replies
That is different for everyone, but tailor it to your family's goals.She is in medical sales and dreads aging in this industry, so being able in 10 years to transition into fulltime REI with me is appealing to her.
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24 January 2025 | 8 replies
Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck
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7 January 2025 | 5 replies
Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!
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17 February 2025 | 40 replies
Having said that, we also have many clients we use our systems and processes for crypto funds, buying existing businesses, funding startups, hedge funds, venture capital, and even non-profits.
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13 February 2025 | 123 replies
Yes, there can be value in there but as a member subscriber, you will get non-stop solicitation.Recently I had one of my Gurus tell me I would never get success with their basic program (of course this is well after I bought it) and I needed to spend $75K!!!!!
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6 January 2025 | 10 replies
Are you/your partner(s) foreign nationals or non-permanent resident aliens?
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18 January 2025 | 3 replies
If this is simply you not wanting to accept partial payments and the rent is current, stop accepting it - and send a Lease Violation/Notice of Quit for Non-Payment of Rent - and force the full rent to be paid per the lease or start eviction.
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22 January 2025 | 5 replies
If so you need to fall into the guidelines (for the investor whos funding it) regarding non arms length transactions.The most common scenarios they typically prohibit are:- Gifts of Equity- Bailouts- Leaseback OptionsAt the end of the day it needs to be a legitimate transaction, with legitimate funds coming into close.