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27 December 2024 | 16 replies
You are correct; I made an assumption that we wouldn't be able to sell through a realtor based on the factors against us.
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28 December 2024 | 7 replies
If things go wrong on a $500K flip vs $1.5 million flip it is much easier to correct and you risk of losing money or not making the profit you want is quite a bit lower.
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19 January 2025 | 47 replies
Let me clarify:You’re correct that there are some parallels.
29 December 2024 | 13 replies
I think Natural Gas dryers have 110V outlets but electric only dryers are 220V w/30 Amp breakers, if I'm remembering correctly.
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16 December 2024 | 1 reply
I have always been interested in home construction techniques that are different or older.Container homes, these sorts of shot-crete homes, bale homes etc.The biggest issue is not that fact that they will rent, for if they are in the right location, of course they will rent just fine.
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24 December 2024 | 14 replies
Here are a few tips:Asset Management: Holding your property in the LLC can protect your personal assets, but check with an attorney or CPA to ensure it’s set up correctly and complies with local laws.Rent Collection: Collecting rent through the LLC simplifies accounting and keeps personal and business finances separate, which is a big plus for taxes and liability.Property Management: Since you’re self-managing, the LLC can be used to formalize agreements, pay vendors, and manage expenses—treating it like a professional operation.Just make sure to consult an attorney or accountant to align your setup with your goals.
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22 January 2025 | 56 replies
This is fun if you’re tracking correctly.
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1 January 2025 | 32 replies
I am admittedly a newb in the process of getting all of this set up for my first rental (so correct me if I'm wrong) as well but I have some IL-specific perspective to offer: From what I have read, as of 1 Jan 2024 in IL, landlords cannot exclusively accept EFT payment of rents (includes Venmo, Zelle, etc.) for leases starting on or after that date.
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22 January 2025 | 203 replies
But with that many less people in LA county now than 2020, you'd expect the decrease in demand would be enough to correct the supply/demand imbalance locally...
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17 January 2025 | 24 replies
If I understand correctly you have a Solo 401(k) and are being told you need to find a new Third Party Administrator/Recordkeeper.