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21 June 2024 | 21 replies
This might mean sharing profits, but it can also enable you to scale faster.- Consider Short-Term Rentals: Since you're in upstate NY, short-term vacation rentals could be lucrative, especially if you can manage them efficiently.
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25 June 2024 | 125 replies
Good luck "By the way I believe you can succeed in both markets (high cash flow/low appreciation & low cash flow/high appreciation) but best odds are if you are intimate with the market."100% agreed and there are many ways to skin a cat (Sorry to the animal activists) hahaHaving the intimate market knowledge as you mention and an end goal will keep an investor on the path forward.Time is a beautiful teacher and will eventually reveal what strategy was best.Much success
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19 June 2024 | 11 replies
I'm a teacher so I value my free time above all else (except for God and family, of course).
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19 June 2024 | 32 replies
Both FNMA and FHLMC permit this, under the following circumstances: Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the propertya limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Citation: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (04/13/2022)Now, you will still have the Note and reporting in your name individually and will still be personally responsible for the mortgage and most likely, the manner of transfer will enable any litigant to pierce the veil of your LLC, but you'll have what you wanted, for whatever reason.
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19 June 2024 | 18 replies
I have found a lot of articles on smart water meters being installed by some city water companies but not much on wifi enabled water meters for consumer purchase.
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19 June 2024 | 18 replies
It can be drawn and repaid, drawn and repaid...somewhat like a big credit card that enables us to use equity in the house.
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20 June 2024 | 30 replies
Because we want to enable people with debts to still be able to buy stuff.
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17 June 2024 | 2 replies
I also know that doing a 1031 exchange will enable us to carry all of the proceeds from the sale as a deposit on a new property.
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18 June 2024 | 26 replies
In my case, it was the only way to get started, doing it part time because I didn't have the funds to go all in full time for a full year.I have always been a solo agent, so I struggled the first two years to get clients, if I would have joined a team I would have had to go full time but I would have been making less than what I was making as an elementary school teacher (70k) because teams take a good chunk of your commission.
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18 June 2024 | 83 replies
The wife of the first couple above is a teacher.