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3 August 2024 | 3 replies
Please be gentle; I'm new at this and it's pretty complex :)Structure / Legal Details- we'd establish market value through a combination of comps from local real estate agent and an appraisal- attorney would establish all required "arms length" aspects including a mortgage at a minimum standard federal rate- LLC would pay us back based on a standard promissory note over 30 yrs Pros of selling to the LLC (I think)- A sale now would be the only time we'd be able to take advantage of the cap gains exclusion on this house bc we won't qualify for the "live there 3 of 5 years" rule due to the timing of our lease and our last time of residence.
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2 August 2024 | 15 replies
I have lived in this home for 4 years now and love my 4.75% rate as well as the equity I’ve seen in those 4 years.
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2 August 2024 | 15 replies
Property was bought with today's rates and numbers and performing well.
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2 August 2024 | 7 replies
Puerto Rico got D ratings from Moody's/S&P and others recently for the state.
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2 August 2024 | 4 replies
Myth: getting your license gives you more knowledge of how RE worksFact: You might learn some things from the course but most of it is learned from your broker/experience Pros: Access to MLS, schedule appointments on your own, keep part of the commission on your own dealsCons: you must pay dues, fees, access to MLS, navigating your own transaction might be stressful first few times aroundIf you want to learn, take a few clients out, buy or help a client buy/sell at least 1 home per year it is 100% worth it.
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2 August 2024 | 1 reply
Also, they use to have approved vendors and if they couldn't get someone on the phone from the approved vendors they would then call local companies that had good ratings but they no longer do that.
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2 August 2024 | 7 replies
I usually get a truthful answer here and charge any additional fees if necessary right after the booking.
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1 August 2024 | 71 replies
Who's paying the Appfolio fees for their property?
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2 August 2024 | 2 replies
Basically.....You invest the $50k-$60k up front for a single-family build or $100k for a duplex build.BTR company creates an entity together to own the asset.BTR company secures lending and builds out the asset over the next 6 months.Once it’s complete, BTR company refinance out and you get your $50k back + 16% at that point (or $100k + 16%)You retain 30% equity in the asset going forward (and therefore 30% of the cash flow or profit upon selling)Exit: 6-7 years once BTR company packages it and sells it to 4.5 Cap rate to Wallstreet.
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1 August 2024 | 2 replies
Would the intent of the buyer's non-refundable, earnest money deposit be on the assignment fee, payable to me, or for a deposit on the purchase price of the house.