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8 August 2024 | 4 replies
Assuming I find another multifamily that would cash flow, how would you all finance the deal.
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10 August 2024 | 14 replies
Stuart I have been with my commercial banker now since 1993.. started with a little 100k LOC to buy timber and within 8 years I was the largest borrower at that bank at about 15 mil.. ( small community bank) but we fought through the GFC together I had to start over and my banker kept one last 1mil LOC open for me so I could operate and since those dark says of 2010 he has gone on to fund 5 subdivisions for me 300 plus homes and 100 plus million in loans and this is based on relationship 100%..
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9 August 2024 | 0 replies
I was searching through some of the data and noticed that there are people from New York and more expensive cities moving there (which I would assume will drive up market prices).
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8 August 2024 | 4 replies
For a duplex that you're renovating and potentially BRRRR'ing I would look to target to get 80%+ of my cash back on the refinance and then cash flow a bit less - maybe $100-$150 per door.
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12 August 2024 | 15 replies
I do have one house hacking client where I sold his condo and then helped him buy a larger townhouse where he can do forced appreciation through rehab (which worked out really well.)I went from a house hacking condo, used a HELOC and then did the FHA 203(k) to a house and built an ADU.Because of the rental restrictions, it might make sense to sell at some point since profits up to $250K is tax free and scale up that way.
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8 August 2024 | 28 replies
I would agree and much rather buy a single family with a two car garage to value add for cash flow if the city allows.
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10 August 2024 | 10 replies
It all comes down to creating equity as fast and safely as you can, and covering the operations (cash flow).If a fourplex has more opportunity, great, if it's a duplex great.
9 August 2024 | 5 replies
I have another one under remodeling that I plan to do as a short term rental (no experience yet, but this house is next door to my home).I have a dedicated website that I maintain myself where I publish the details, applications etc, also list it on zillow and do the screening through mysmartmove.
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10 August 2024 | 8 replies
I called WF and they said for business account I need a registered business like LLC etc which I do not have.I would go a step further and set up 1 Bank account for each property, this way at the end of the year you can go through each properties bank accounts to see what the income and expenses were.
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8 August 2024 | 4 replies
Start investing in cash flowing properties, like duplexes, triplexes and quadplexes.Thanks,Dustin