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25 October 2024 | 12 replies
With $175k, their buying power is now only $875,000 with 20% down.($175,000 / 20% = $875,000)Of course, the buyer can put less than 20% down and pay private mortgage insurance, but let’s say they really want to put 20% down.As a seller, you have now reduced the pool of buyers who can pay $1M for your home since the buyer needs to save more money to reach a $1M purchase price.So, would you rather make $875k and “save” money on commission, or make $975k and just pay their agent?
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23 October 2024 | 7 replies
Hey @Tony Thomas, I won't speak to the tax side (not a tax pro) but from a bookkeeping perspective, this will complicate your operations (and, bookkeeping as a result) quite a bit.So, ensure you have super powerful incentives from an REI-savvy attorney and an REI-savvy tax advisor prior to making this move.Some of our Clients have implemented this in the past (prior to working with us) and their businesses weren't large enough to justify the complications that come with this type of structure.Hope that helps!
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23 October 2024 | 2 replies
It's a powerful and user-friendly tool that has made a huge difference for me.
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23 October 2024 | 15 replies
@Tyler Bilinovic my opinion is to get an accountant earlier in your investment career because your savings compound.
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29 October 2024 | 24 replies
It's an incredibly powerful form of leverage.
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23 October 2024 | 7 replies
Pooling resources with others is one way to increase your buying power (and potential returns) and is something I am seeing more and more of in my day to day given the mutual tax benefits that can be shared and the high price to entry for housing rn.
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22 October 2024 | 7 replies
AI-powered platforms can be a useful tool to manage the routine tasks of a landlord such as collecting rent, tenant screening, maintenance requests and tenant communications.
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22 October 2024 | 2 replies
It was great meeting you at BPCON and I am so glad you are leaning into the power of this community to help you build your business.
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20 October 2024 | 84 replies
You are missing the magic of compounding interest.
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25 October 2024 | 33 replies
This is what I typically use for my SFR direct mail campaign to landlords. but if you are targeting multifamily more likely they will have tenants in place, so that statement is not as powerful for your audience as it is for SFR landlords, that sometimes is hard to sell a property with Tenants in placeI hope that helps a bit