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28 November 2024 | 8 replies
I know people that are really good at their trade (plumbing, cleaning, electrician, etc) but they don't have financial discipline, they don't know how to market, they suck at customer service, they don't use tools to their advantage, etc.Cody Sanchez (lady in the video) buys different types of businesses and makes them profitable by applying basic business disciplines.
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25 November 2024 | 14 replies
I have zero connections in NC, but if by chance something emerges, I'll let you know!
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26 November 2024 | 86 replies
The Federal Trade Consumer’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities.In all other industries consumers are able to rate the performance of service providers and potential investors have a right to have these insights.
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1 December 2024 | 93 replies
Would love to trade with others to compare notes and brainstorm.Cheers!
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26 November 2024 | 1 reply
In order of priority, I would put title company after GC, lender, insurance broker, real estate agent(s), inspectors, and several trades.
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26 November 2024 | 10 replies
Consider emerging Sunbelt markets like Phoenix, Tampa, or parts of North Carolina (like Raleigh or Charlotte) that continue to see high migration and job growth, driving both appreciation and rental demand.
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23 November 2024 | 7 replies
Use less of that and either get the seller to buy down your interest rate or you can do it and have a comfortable mortgage payment and still plenty left for your emergency fund.
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27 November 2024 | 10 replies
I'm a carpenter / contractor by trade, and I've done a few major whole-house renovations of personal homes over the last decade or so.
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26 November 2024 | 4 replies
Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.
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26 November 2024 | 7 replies
Build an emergency fund to cover unexpected costs, and ensure you can manage the mortgage without STR income if needed.