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7 January 2025 | 5 replies
I found this article that allows Fannie Mae and Freddie Mac loans to move the loan to an LLC: https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Pa...as long as I am the majority owner in the LLC.
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30 December 2024 | 0 replies
The experience was really bad as I was getting 1-2 year old leads to cold call that I knew had a 0% success rate and I do much better generating leads organically on my own.
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7 January 2025 | 7 replies
I put a lot of time into listing and title, so likely good there.For amenties, I do have some of the major ones referenced - hot tub, Wifi, and stocked kitchen.
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3 February 2025 | 56 replies
Detroit has so many features that make it the obvious stand out as America's next major Metropolis.
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13 January 2025 | 16 replies
However, for major issues, STR insurance ensures you're fully covered.
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8 January 2025 | 27 replies
I am guessing that the vast majority of homes 10+ years old had some sort of water damage at some point, most had probably several.My own home is only a few years old and we had the washer spring a leak and a few years later the RO system in the kitchen started leaking into the cabinet.Seller disclosures are pretty useless in my opinion.
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9 January 2025 | 32 replies
Quote from @Bob Dole: All,Apologies for the newb question, but I just heard about cost segregation and have been reading up about it online.My understanding is this (and please correct me where I'm wrong):Pros: -accelerate depreciation, front load (vs. just a straight line over 39 years) -save money on taxes because of the depreciationCons: -if I sell the property, the recapture will be larger -not recommended if you flip propertiesSo hypothetical situation:-Majority of our income is W2 based, let's say it's $500k-Net income from commercial rental is $100k-Income from dividends and interests is $100k-Both of us are full time W2, so non-prof real estate (but this can change -- please see below)So we're hypothetically grossing $700k a year.
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16 January 2025 | 23 replies
Until that happens, enjoy major cash flow.
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17 January 2025 | 6 replies
However, it is an old home and you are thinking about major cosmetic upgrades too.
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9 January 2025 | 9 replies
If you are still a majority or controlling partner you will get no pushback.