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11 March 2024 | 0 replies
Tips for Newbies: If you were to give advice to someone starting with single-family investments, what would it be?
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13 March 2024 | 14 replies
Here are a few below:Generally, buying through your personal name can reduce the interest rate - commercial rates on LLC mortgages are usually higher but you can research thisMost LLCs on incorporation don’t have any credit so it may be difficult to find. a lenderIf you own the property in your personal name you are exposing yourself to more risk and will want to transfer the property into LLC as soon as you canIf you own property in your personal name and transfer to LLC the lender may not allow or can call the entire loanLLC or personal ownership you need insurance.If you search the forums for this topic using the magnifying glass feature in top right corner of your screen on BiggerPockets you will find a lot of discussion on "Quit Claim" "Buying through LLC", "LLC or not" etc....
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11 March 2024 | 9 replies
Exactly how much the lenders will lend is based on the data on the property's marketability and the borrower's credit score.
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13 March 2024 | 15 replies
You want to build up the reserves for when you do need that new roof/appliances down the line and you can't be sure you won't get a bad tenant in that trashes the place so better to start saving that.Ohh another Tip on the duplex design that I got from a member.. in your design have the entry doors for each side as far from each other as you can.
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11 March 2024 | 14 replies
One would have to be nuts to use a fintech bank and a public bank who's credit rating is crap when holding your (or your client's) money.
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11 March 2024 | 8 replies
I have three rentals as well and can attest that there are definitely tips and strategies out there that a knowledgeable CPA, who specializes in real estate, can help you with.
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11 March 2024 | 1 reply
I had better luck with traditional business lines of credits with banks.
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11 March 2024 | 5 replies
Not high earning 90-120k. 27 years old. 700 credit score.
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10 March 2024 | 4 replies
Speaking as an immigrant myself, immigrants do not want any eviction record on their credit as they are trying to establish a life here, but I am not sure how to facilitate an eviction process for an international tenant with limited information on hand.