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3 February 2025 | 0 replies
Here are the key details of my situation:Rental Property Details (Note: This was our primary home till 2017):Current Value: $970,000 to $1MPrimary Mortgage Loan Balance: $505,000 (@ 2.6%)Took Home Equity Loan on this house to make down payment for my current primary residence.Home Equity Loan Balance: $123,000Total Loan Balance: $628K (Primary Mortgage + Home Equity Loan)Rental Status: OccupiedPrimary Residence:Purchased in 2022Mortgage Rate: 7.3%Current Loan Balance: $650KMy goal for 2025 is 2 fold: #1.
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8 February 2025 | 2 replies
Houses are staying longer on the market in many places.
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7 February 2025 | 7 replies
House hacking and multi-family properties are great ways to start in real estate!
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29 December 2024 | 15 replies
Computers can analyze property based on subjective data (square footage, # of beds/baths, etc.) but cannot calculate for objective data (quality of kitchen cabinets/counters, size of bedrooms and bathrooms, view out the living room window, etc.).You should study the market yourself.
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10 February 2025 | 2 replies
If anyone in Pennsylvania is looking to sell their houses through a wholesale agent please consider myself as a reputable source of help.
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13 February 2025 | 6 replies
We had a tenant HUD approved Section 8 where we had 12 people ina 4 bedroom house.
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7 February 2025 | 10 replies
I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?
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10 February 2025 | 25 replies
How are you going to acquire 30 houses free & clear?
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2 February 2025 | 2 replies
I just bought 5 houses in 5 days in 3 states, 1 of the states I never bought property before.
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3 February 2025 | 6 replies
If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.