Yents Ybrimovic
203K loan new investor question
17 December 2024 | 16 replies
However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.
Spencer Manning
Section 8 (HCV): Do government funds ever run out? And other questions.
13 December 2024 | 5 replies
From my limited understanding of how they work is that S8 is a federal program that the local HA apply to so the funding is "Unlimited" as in that the local HA isn't individually funded.
Lena Truong
Has anybody invested in American Homeowner Preservation? 12% retu
3 December 2024 | 29 replies
@Marian Smith@Lena TruongI have bought notes from them and the individual who runs AHP is well respected.
Josh Holley
Seller won’t return EM
31 December 2024 | 97 replies
There are always some self-righteous individuals who try to appear as very professional figures in this community.
Heidi Fischer
STR Loophole possible buying in Dec 2024?
10 December 2024 | 25 replies
Or is it limited to 1 property per individual/LLC per year?
Griscel Maciel
Should I sell separately or as a whole?
4 December 2024 | 4 replies
It seems like it basically up to you to do the math on how much more you will potentially make selling each unit individually and then deciding if that extra $$$ is worth the number of extra hours you will spend.
Stuart Udis
If you are buying lower cost SFH's what is your exit?
9 December 2024 | 20 replies
In my opinion, you can make as much money buying cheap houses as you can buying expensive homes.Affordability is an issue for a lot of Americans so I will argue cheaper cities performed better over the past 10 years than more expensive markets / houses.San Francisco, CA, Seattle, WA and New York, NY are considered expensive markets.If I look at Zillow's price estimate for homes comparing 2016 and 2024San Francisco - Average Price of home was $1,145,000 and now its 1,262,000(Increase of 10%)Seattle - Average Price of home was $561,000 and now its $848,000(51%)New York - Average price was $561,000 and now its $766,000(37%)Memphis, TN, Indianapolis, IN and Clevlenad, OH are considered cheaper markets.Zillow is showing more appreciation in these markets over the same time periodMemphis - Average price was $73,000 and now its $149,000(104%)Indianapolis - Average price was $107,000 and now its $225,000(110%)Cleveland - Average price was $54,000 and now its $109,000(101%)Population increases and job growth are two indicators that result in appreciation.Two of the cheaper markets listed above(Memphis and Cleveland) are not increasing in population.
Lisa Eisenhauer
Need a bank that will set up a checking account for an LLC owned by a Roth IRA
13 December 2024 | 16 replies
that didn't make sense to me that if i have my ira with you then you will put who the owner is but if i don't have it with you you wont' put anything.anyways, she def didnt' give me indication that she exactly knew. maybe i had a bad agent and since i was already skeptical of using a small bank, that def turned me off.at chase my account shows that it's a business account under an llc. i am the manger of llc, the only thing that worried me is that they put me as a the owner of llc. this seemed no diff to me that when you go get an ein, it also puts you the owner of llc. if irs itself can have this limitation in getting the ein, then surely they would understand the limitation of the bank. besides, i have a fully complying operating agreement in which i have a clause that explains while irs ein letter shows me as the owner, in reality it is my ira that is owner and that that there are limitations on irs website when obtaining an ein. i will jsut be adding a similar explanation in my operating agreement about bank acct and have all the supporting documentation in case if it's ever needed. but that's where i am at.i wish this process was simpler/ easier. it is also very frustrating that the custodian doesnt' telll you anything. they all market you can have a checkbook ira but don't really guide you in HOW to do it practically. all these rich ppl are doing it and i doubt they are going through all these hoops. ...
James Mays
Inspection Report - How would this inspection report affect your offer?
7 December 2024 | 8 replies
My realtor and my contractor both felt that if he was refusing to upgrade the panel it was likely an indication that he had done shoddy work on the rehab or had something to hide.
Hector Espinosa
If You Were to Start Investing from Scratch in 2025, What Would You Do Differently?
14 December 2024 | 42 replies
I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.