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14 January 2025 | 37 replies
This would require a refinance into a loan with a 5-10 year maturity.
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24 January 2025 | 0 replies
You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.
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6 February 2025 | 58 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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11 February 2025 | 9 replies
Hi Allen, there are plenty of hard money/private money lenders here on BP, just take your time and speak with several of them to understand all the fees and requirements.
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11 February 2025 | 4 replies
Given interest rate changes, property values, and lender requirements, I’m curious about:How were your acquisition and rehab costs compared to your ARV?
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3 February 2025 | 4 replies
I am at an inflection point where I need to decide if I should try to sell or rent it due to possibly moving for a job change.
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7 February 2025 | 3 replies
What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.
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22 January 2025 | 15 replies
I've driven by it a few years ago.Great job!
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1 February 2025 | 16 replies
We will always require at minimum 10% of a down payment for a purchase.
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23 January 2025 | 5 replies
Only a few simple documents are required, including a valid passport, birth certificate, and proof of address.