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6 January 2025 | 0 replies
You can find us online.Current Ideas: Video Series on Passive Investing in MHC, Tax Benefits of MHC, Investing through 401k etc.
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9 January 2025 | 2 replies
Example - borrower uses loan to purchase a home in a B or C grade neighborhood for 380k, spends 50k rehabbing primary home, uses 200k to put an ADU in the back, appraisal comes back at 925k.
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19 January 2025 | 55 replies
Quote from @Dorothy C.: referring to RentRedi Me too.
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9 January 2025 | 10 replies
@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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13 January 2025 | 5 replies
You must be pretty good friends - most veterans (including myself) would never let a non-veteran assume their loan b/c the VA loan entitlement is not restored until that loan is paid off.
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16 January 2025 | 10 replies
Technically it would be best to get a C Corporate or S Corp. to flip properties and since you are considered a dealer if you do several properties a year and this could have negative tax consequences in an LLC.
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10 January 2025 | 16 replies
If you don't have an entity, this is a Schedule C activity.
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8 January 2025 | 5 replies
@Polat Caglayan very ambiguosu question, but read the helpful info below to guide your next set of questions:)-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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7 January 2025 | 8 replies
I recently watched a video of a social media guru suggesting in 30 days he could have a team in place in any market in the country and be up and running with a successful real estate business.