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27 January 2025 | 17 replies
If you don't do anything within the software, maybe only your bookkeeper needs the software and he/she can print out the reports for you.If you want access, then you and the bookkeeper would need the desktop version and possibly a shared folder like google drive to share the quickbooks file.Intuit used to sell the quickbooks desktop(one time purchase).
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20 January 2025 | 7 replies
Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.
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22 January 2025 | 12 replies
From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.
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6 January 2025 | 5 replies
A recent divorce could impact someone's credit score, but it shouldn't drive it from 700 to 545.
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20 February 2025 | 46 replies
I always put a couple nail holes and anchor bolts in their car fender before they drive away.
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13 January 2025 | 1 reply
My real estate agent thinks I'll only get 1.1 million for my home but due to a few factors I think it should be more. 1.
13 January 2025 | 21 replies
Their clear incentive is to bet on falling interest rates between now and debt maturity.A small handful of owners are forced to sell due to a looming balloon payment that a refi won't cover, but you're not going to find one of those by driving the market when any commercial broker can just look up properties on that basis and start making calls.
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20 January 2025 | 31 replies
While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.Assume 35 bps.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.
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20 February 2025 | 114 replies
Let's talk about the 'upcoming economy transition'.Right now, investing in private placement syndications makes even more sense than ever. 1/3 of the dollars every created were willed into existence over the last 1.5 years, and with the cervesa sickness policies enacted, this is driving the dream of homeownership more and more unaffordable.We are going to see record rental demand going forward with huge housing unit shortages in many markets.Both passive investment in syndications and buying SFHs can fit this role, but owning rentals suffers from all the issues I outlined in my first posts.I'm usually funding 4-6 deals a year, and even with this cash position in portfolio is getting uncomfortably high.
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15 January 2025 | 10 replies
Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet.