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15 February 2025 | 11 replies
I would also check median home prices vs. rent potential, landlord-friendly laws, and supply vs. demand trends.
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15 February 2025 | 11 replies
After 12 months, you can use the rent payments as part of payment history, but only if you can show cancelled checks or payments thru a bank account - again, NO CASH PAYMENTS!
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26 January 2025 | 21 replies
If it was being done on purpose they would do it just before check out and probably put something worth less than a vape.
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13 February 2025 | 14 replies
Check them out at BiggerPockets.com/equitytrustAre they any specific features that are most important to you in a self-directed IRA provider?
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8 February 2025 | 13 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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31 January 2025 | 29 replies
A new build needs to perform better than that to make it worth your time, all the risks and capital concentration.thanks for the advice everyone and would be happy to connect with you: @Bryant Brislin @Dave Wells @Leilah Davis @Joshua Stewart I have been building 15 to 20 spec houses a year now for 7 or 8 years..Just curious, generally from start to finish, from closing on buying the land to collecting a check after building the house and after escrow, how long is the process taking you?
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16 January 2025 | 78 replies
This requires an income that allows you to maintain your standard of living throughout your life.
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1 February 2025 | 11 replies
I’ll check it out, thanks!
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30 January 2025 | 8 replies
@Jerryian Francois if you are still looking for a 203k lender try checking with @Jose Valdovinos!
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29 January 2025 | 21 replies
I recommend checking the areas near University Circle for that reason, but there are some spots not far from there that can be rough, so do your due diligence.