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16 February 2025 | 71 replies
Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.
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25 January 2025 | 10 replies
I recommend honing in on one specific strategy to get started and then go from there.
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27 January 2025 | 5 replies
I had specifically asked for numbers including mortgage payments and they emailed to me.
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27 January 2025 | 27 replies
Quote from @Joshua Janus: Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!
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29 January 2025 | 22 replies
I'm not sure what specific areas in OH I'll focus on yet.
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31 January 2025 | 11 replies
Hey @Mike Nelson, never assume anything about STR rules and regs.Here is the STR rules for Oak Park - https://codelibrary.amlegal.com/codes/oakparkil/latest/oakpa...I would call the city and make sure it is legal for a specific property.Now regarding the famous person angle, sure it can add value to the property or as a STR, but for STR use, I would think you would need it to be in original condition with a lot of the furniture and knick-knacks that were owned by the famous person along with a bunch of photos etc featuring the famous person.If you buy a place that has been totally redone but was owned by someone famous but has no features or things that were theirs, then I don't see it being a draw.
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1 February 2025 | 11 replies
Are there specific lenders or loan types I should look into?
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24 January 2025 | 6 replies
Good evening BP world,I am looking to make some contacts, specifically RE agents and hands-on investors in the phoenix area, in order to start acquiring some value add SFH investment properties.
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11 February 2025 | 4 replies
You could give them a thousand bad reviews, if they are the only person in town offering a specific type of product, people will still do business with them.
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22 February 2025 | 18 replies
Maybe I am not seeing the full picture but any specifics you could share that they would bring to the table?