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25 October 2024 | 8 replies
To pencil out whether a deal is good I work at a high level and have maybe a 15-25 tasks and to actually manage the work once I buy a property I might have a a couple hundred tasks depending on the complexity of the job.
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23 October 2024 | 6 replies
However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.
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23 October 2024 | 1 reply
While that’s appealing, the added complexity with tenant turnover, varying personalities, and managing shared spaces can make it a bit of a trade-off.I’m curious, how does it look in other markets?
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23 October 2024 | 2 replies
Just be aware that this adds another layer of complexity, and you’ll want to check with both your lender and a real estate attorney to make sure everything is set up correctly.When it comes to terms, owner financing gives you a lot of flexibility:Interest rate: You want something attractive to the buyer but that compensates you for the risk of holding that second lien.Repayment schedule: You can choose a traditional 15- or 30-year schedule, or go with something shorter if you want to be paid off sooner.Balloon payment: Many owner-financed deals include a balloon payment, meaning the buyer pays off the remaining balance after a set period (usually 5-10 years).
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23 October 2024 | 15 replies
An accountant can help you navigate complex tax rules and keep your records in order, potentially saving you more than their fee.
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26 October 2024 | 50 replies
(for example, before me moved in the house in 2021, we were renting an outdated 2bd apartment across the street for 4 yrs, apartment complex amenities were in a very bad shape (unusable), and we were paying about $1,600/mo and they were about to increase it to $1,850/$1,900.
30 October 2024 | 94 replies
Growing to the large number you are looking at in the time frame you want will require outside equity investors and will require a large team to help manage and support your work (at which point you'll probably move to apartment complexes rather than single family homes).
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22 October 2024 | 1 reply
Purchase price: $1,300,000 Cash invested: $260,000 25 unit apartment complex What made you interested in investing in this type of deal?
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29 October 2024 | 24 replies
@Brody VeilleuxHouse hacking and BRRRR (Build, Refinance, Resell, Reinvest) strategies are effective for property acquisition, but they carry risks like delayed refinancing, increased debt, and property management complexity.
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21 October 2024 | 3 replies
I realize residential financing doesn't currently allow for this and pulling money out down the road could be more complex or strictly in the commercial lending realm.Any and all feedback is appreciated!