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8 February 2025 | 3 replies
I highly recommend hiring an attorney, at least for your first time.Some attorneys specialize in evictions.
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21 February 2025 | 12 replies
Do you have a recommendation on how to find local investor friendly agents or where to find wholesalers in my market?
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13 February 2025 | 6 replies
For context, this would be for a property I already own.I understand this may be a bit unconventional and people will likely recommend I get a proper quote and have the contractor do a full walkthrough.
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18 February 2025 | 10 replies
If your current CPA can't provide this type of advice, maybe try the BP pros finder tool (I will post the link below) or hopefully someone will comment here and recommend a real estate CPA that they worked with before.https://www.biggerpockets.com/business/finder/searches/ffd0c...
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18 February 2025 | 11 replies
Of course I would recommend talking to a qualified realtor but I'm married to the biggest realtor the smokies have ever seen so I'm biased.
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6 February 2025 | 11 replies
Quote from @David Strunk: I know this question is off topic but I am also in NC the Charlotte area and was wondering if you could recommend a good CPA?
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11 February 2025 | 3 replies
Like all good attorneys, I'll incessantly remind everyone that nothing I'm saying is comprehensive legal advice and will always recommend that you engage an attorney before you do anything--that's just the rule of the road for us.
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8 February 2025 | 6 replies
HI @Paige GardnerI can send you HML recommendations and wholesalers.
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15 February 2025 | 2 replies
I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.
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18 February 2025 | 5 replies
SUBSTANTIALLY.I highly recommend tapping into your equity and accumulating some more assets at these prices, you will thank yourself in 3 years.The best and most cost effective way to do so is a simple cash out refinance, I don't think you should touch your primary, but leverage your investments for sure.