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21 February 2025 | 102 replies
I let it dry, then lay down copious amounts of diatomaceous earth into the gaps to discourage bugs.* Day 4: Maintenance responds to my pest control request by spraying a $30 bottle of Walmart roach spray around the house like I couldn't and didn't do that already. * Day 5: I find a live roach on my windowsill the next morning.Currently: One bathroom is taped shut and not working.
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22 January 2025 | 8 replies
.- Do you have 200-250k cash, or is that what you can get with your loan amount?
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4 February 2025 | 5 replies
This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.
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30 January 2025 | 8 replies
Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.
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31 January 2025 | 5 replies
Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate.
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29 January 2025 | 7 replies
It also helps to show them the amount of interest they can get when they add up 30 years of payments (compared to the sales price).
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12 February 2025 | 3 replies
It seems like the initial amount for the 1st year on 10 flips is off.
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25 January 2025 | 5 replies
You can add different ways to reach out to improve your conversion for owners you are hitting or you can increase the amount you are sending.
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31 January 2025 | 7 replies
My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.
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2 February 2025 | 17 replies
I also keep a fair amount if cash (10%).