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30 August 2022 | 9 replies
things like the 750,000$ tax deduction on mortgage interest on personal residences, or your accumulation of wealth to the coveted "accredited investor" status. just like @Joseph Beilke said this should be hashed out with your lender, and if their not answering you out right they're probably trying to make a sell and keeping their a** covered at the same time.
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27 November 2020 | 35 replies
However, with only a 3% appreciation rate, you'll have enough to put down on a second property with your accumulated equity in 4-5 years.In reality though, most investors that scale rapidly do so by creating value, using outside income, or using other peoples' money.
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26 May 2021 | 1 reply
Looking for some input BP Community.Keep in mind my goal is to maximize cashflow per month, I want to keep accumulating rentals, and I don't really care about the market/property value alone since my focus is on the cashflow.I own a 2 family in a partnership with 1 other person.- The remaining debt on the property is just below $130k- Last appraised at $192k- The Mortgage currently is right around $1,200/ month- 1 unit is rented at $1,050 per month- 2nd unit is about to be vacant and we will need to complete a full renovation (previous tenant was in place for 7+ years) - But this unit can rent for $1,150-1,250 and I already have 2 separate people interested in applying to rent once we renovateHere's the dilemma.
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26 June 2022 | 13 replies
Hello,I've been investing in Tallahassee on the side for about a decade now and have accumulated 4 rental properties that cashflow very nicely.
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9 July 2015 | 37 replies
Accumulate rental properties quickly and have them pay for your monthly expenses.
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11 September 2020 | 23 replies
This is an added cost to you.2 - You take that money and buy your equity on the rental property.3 - Now, to see where this impacts you negatively, try this: Take the $300/m, or $3600/yr, and see how long it takes you to accumulate enough CF to recover the money you spent paying off the mortgage.
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13 October 2020 | 3 replies
If you plan to just sit and accumulate properties, then by all means, your theory is correct.
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1 July 2021 | 17 replies
@William Brock We furnished it by accumulating furniture/decor in our garage in Houston.
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16 February 2024 | 12 replies
As with any investment decision, caution and diligence are paramount, but ruling out syndication entirely may mean missing out on valuable opportunities for portfolio diversification and wealth accumulation in the real estate market.
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9 February 2024 | 5 replies
Here are some more details...The property has a $40K+ water bill.The water company has informed us that with foreclosures, the new owners are not on the hook for past balances.so the lender/trustee is responsible for rectifying this... and the balance is so high they're delaying until they figure something out.Aside from that bill, there are no other encumbrances and we're able to get clean title with owner's title insurance.We got in the deal with cold, hard personal cash.We have a balance, which is {AuctionWinAmount - DownPayment].This balance accumulates interest until we close.so we have equitable title, but the property is not deeded to us until we close with the trustee.