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9 November 2024 | 21 replies
4> Personal Guarantees: Stabilized/ Performing vs Personal creditGoing in all cash on this project, Ultimately want to cash out on the refi, What should personal credit look like (restructuring), Doing the project in my LLC, will my personal credit matter?
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19 November 2024 | 111 replies
Avoiding violence at all costs should always be the ultimate goal.
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8 November 2024 | 6 replies
While I realize that if a person really wants to find out who owns the LLC, they ultimately can with some personal effort or potentially the courts, I didn’t want people to be able to easily look up that information online (ie a simple Google search).
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11 November 2024 | 10 replies
Never heard of that but ultimately its their money and their rules so how do you argue.I did try pushing them to seller finance but they wanted 100k down and I just don't want the property that bad to where I have to tie up my cash for the down payment plus the rehab to add the additional units and fix the place up.
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8 November 2024 | 5 replies
Just double-check with the Illinois Department of Financial and Professional Regulation (IDFPR) to make sure you have all the specifics covered.Managing Broker and Deal Visibility: Yes, typically if you hold your license under a managing broker, they’ll have visibility into your deals since they're ultimately responsible for the transactions you complete.
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4 November 2024 | 3 replies
But with every successful transaction, my confidence got a boost, and I got more comfortable taking on bigger projects.
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4 November 2024 | 4 replies
This is particularly beneficial in popular tourist areas where demand for short-term lodging is high.Flexibility: Owners can choose when to rent their property, allowing them to use it personally during off-peak times.Support for Local Tourism: STRs provide a unique lodging option for tourists, helping to boost the local economy by attracting visitors who may prefer a home-like stay over traditional hotels.Diversification for Investors: STRs provide real estate investors with an additional income stream, especially if they own properties in tourist-heavy areas.Cons:Strict Regulations and Higher Fees: San Antonio recently updated its STR regulations.
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6 November 2024 | 18 replies
They are there to help you as you have requested, but it is still your business and you yourself are ultimately accountable for its success or failureLetting your property manager own the property listing on Airbnb is like a head chef letting the dishwasher set the menu at a fancy restaurant.
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4 November 2024 | 12 replies
In my opinion, house hacking is the easiest way to get into the RE game with the lowest money out of pocket...plus if you throw in a renovation loan like the 203k or homestyle, you can boost your worth quickly!
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9 November 2024 | 23 replies
If you can get a 4 unit and a basement, that would be ideal and create major cash flow and equity creation, plus you can not worry about a property manager and boost your yield.You can get a whole bunch of cheap debt which your tenants will pay down over time, massive appreciation and potential cash flow if you buy right.