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3 January 2025 | 14 replies
But they auto-deposited $50 into my "marketing account."
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7 January 2025 | 1 reply
There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc.
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12 January 2025 | 12 replies
Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.
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7 February 2025 | 25 replies
She sent me a letter from Commercial Property Advisors, Peter Harris, which stated she had approval for funds sufficient to cover the purchase price and below it listed a Wells Fargo business account showing funds in excess of the purchase price.
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12 January 2025 | 2 replies
Account for all costs, including closing fees, holding costs, and repairs.
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5 January 2025 | 5 replies
In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.
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9 January 2025 | 59 replies
Money was deposited into my account the day after checkout.
9 January 2025 | 7 replies
Account Closed said, income and assets are the only "hassle" with a conventional loan.
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16 January 2025 | 38 replies
Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too?
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16 January 2025 | 12 replies
Can I personally take that extra finance money tax free into my own name or personal bank account to do with what I please, or does the refinance money have to stay in that Llc company and I cant use it personally.