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23 January 2025 | 5 replies
Buy a lot, build a rental propert, to be rented out 2026 for approximate annual income 150k.I understand I can borrow for 1 and (2 or 3), but that would put me under risk i don't want to take.
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24 January 2025 | 1 reply
Additionally, many deals tend to fly under the radar, so networking within organizations like NARPM (National Association of Residential Property Managers) can help uncover opportunities.If anyone reading this is considering selling their property management company in Texas, feel free to share—I’m genuinely interested in connecting.
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30 January 2025 | 13 replies
Nights, weekends, holidays, etc.To keep this on-topic, though...DO figure out what's healthy for you to manage but remember it's a process where every experience teaches you good and bad (and be patient with that process).DON'T sweat the small stuff (damage/costs under $50, undisclosed dogs, etc.) but DO find a way to learn, prevent, put in better practices to maintain your sanity.
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11 February 2025 | 20 replies
The GSEs, Fannie Mae and Freddie Mac, both allow the use of foreign income under certain circumstances.In the personal tax returns provided by a borrower, you may see an IRS Form 2555, which identifies the foreign earned income.
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21 January 2025 | 4 replies
Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.
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8 February 2025 | 10 replies
Definitely want to do things right, sorry if it seemed like I was trying to skirt around the law 👍🏻Your comment: "I wasn’t taking on debt per se"Maybe I misunderstood, are you not planning to make payments on the underlying note?
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16 February 2025 | 29 replies
I was stuck in analysis paralysis for 10+months and then I read this book and no joke had my next project under contract within 3 weeks.
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30 January 2025 | 10 replies
Some lawyers will file ejectment lawsuits and ask for service by publication, but that is not allowed under the rules.
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30 January 2025 | 7 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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4 January 2025 | 4 replies
For example, if you are buying in an area that is in are 1980s and above, you might run into a roof that is tile and the paper under the tile needs to be replaced the day you close.