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8 November 2024 | 14 replies
I’m continuing to put out plenty of offers on various properties and exploring different approaches to see what gains traction.For this one, I’m considering proposing a rent-to-own/deal finance contract with strict contingencies—something like requiring monthly photo proof of bank loan payment, with the understanding that failure to comply would result in a loss of equity of the seller.
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7 November 2024 | 21 replies
It is a little lower than I expected but I will be able to sell these off, however, it may be at a loss and is less than what I had mortgaged on these houses so I would probably need to come up with cash at closing, which is not ideal.
4 November 2024 | 11 replies
Thanks a lot for the replies @Chris Mason and @Gregory SchwartzOur lender said we can do a bridge loan but its around 11%.. id bring in 20% downpayment max, dont want to put too much personal assets into it and the issue is for yr1 w low rents and renovations its def a monthly -3-4k loss. def want an 8% or lower rateNot sure if lenders are ok with an initial cashflow loss, once its renovated we can have market rents and its a great deal after. it listed at 1.495M and we'd offer 1.2-1.25M. i understand the living in part doesnt necessarily bide well with investment focus, but for us thats a big appeal that its in a nice area to even live in
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4 November 2024 | 8 replies
Here's a sample monthly for one property:Gross Rent: $1990Mortgage: 1770Tax: 209Insurance: 119Management: 199SO that's about a loss of $300/mo.
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7 November 2024 | 6 replies
Loan balance is 280k, value is over 500k, cash flows about $1300…went to apply for a business line of credit thru my operating LLC and was denied due to losses in last years schedule E…the idea was that I use the LOC to help pay for a down payment.
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5 November 2024 | 39 replies
We're mourning the loss of friends and neighbors, some of which haven't been found yet, not to mention favorite places, small businesses, animals, you name it.
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6 November 2024 | 6 replies
While some investors have experienced significant success, others have faced substantial losses.
4 November 2024 | 8 replies
There is no loss of use.
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8 November 2024 | 22 replies
Oh by the way, up until i started selling, i hadn't paid income taxes on any of the rental profits for almost 14 years and even after I started selling, my carry forward losses covered everything up until last year when they finall ran out.If you buy right, sfh rentals are the best long term investment you will ever make.
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7 November 2024 | 12 replies
It's also a bummer to be a creditor to someone who's over leveraged and putting investments on credit cards even if they are interest free for 21 months.I wonder what your reserves are like, both for your investments and for your ability to withstand a loss of a job or income.