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1 December 2024 | 10 replies
It’s been several years ago so I don’t know the exact amount to the dollar, but it was over 100 K.
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25 November 2024 | 4 replies
I generally look for the areas of a market that have a large amount of available rentals on sites like Zillow or Redfin that are closer in dollar amount to the FMRs for that county.
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27 November 2024 | 9 replies
Finding investors: that is the million dollar question.
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26 November 2024 | 13 replies
Also, cost segregations are usually done on multi-million dollar assets not single-family homes.
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26 November 2024 | 5 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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24 November 2024 | 8 replies
There are a lot of groups out there right now that had made-for-TV track records that will likely not be in business in a couple years.Focus on the experience of the team, how long they have been in the business, how many market cycles they’ve survived, their philosophy on leverage, and how many properties they bought in 2022/2023 (a good answer would be few, a great answer would be none).And do yourself a favor and read The Hands-Off Investor (in the BP bookstore) before you invest a single dollar in a syndication.
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1 December 2024 | 91 replies
To do a "boot-camp for syndicating" would be definitively stepping over dollars to pickup pennies.
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28 November 2024 | 18 replies
I don't know who Tom is but if you're paying more than a few hundred dollars for it I wouldn't bother.
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1 December 2024 | 32 replies
That is where you will be able to buy deals that are 70 to 80 cents on the dollar.
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5 December 2024 | 87 replies
I'll share my happiness when I receive my first monthly interest = ) Tiny amount but hey, I'm happy with every dollar as long as they are passive income = )