
19 June 2024 | 7 replies
I am more flexible with them on holidays if one cannot be cleaned by EOD but this is a hospitality business and holidays are expected to work days IMO

16 June 2024 | 11 replies
- Should I use my own capital up front or try to partner with an established land flipping business to fund the deals?

19 June 2024 | 18 replies
Hey mate,Thick skin is needed on this forum and in business in general 🤷♂️I just posted something similar on another thread and the best advice I can give is spending enough time finding the right people on the ground before looking at the prospect of a market or a deal.Especially when doing BRRR out of state which is a very tough gig IMO.You can find the best market, with the best growth potential, find the best deal with the best cashflow but if your realtor isn't genuine, your property manager is incompetent and your contractor is a cheat.You will loose money.Also, underestimate your income and overestimate your expenses on every deal and business opportunity.If you think it won't happen to you, I can tell you right now that it unfortunately will...I've completed hundreds of flips and rarely come in at budget from a rehab standpoint.So keep that in mind.Appraisers are a joke and easily manipulated.They follow weird data and many want to cap you intentionally (No idea why...) on the ARV.They play it safe and can see how much you paid and what you spent on rehab so they will cap the value and come in under fair value on many appraisals.I stopped dealing with selling to investors looking to finance many moons ago as it wasn't efficient from a business perspective and I'm not in the business of using "in-house" lenders and manipulating appraisals like many others do.

20 June 2024 | 2 replies
I'd change the business plan and pick profit over passion but that's just me

19 June 2024 | 7 replies
--Can't do if you have a W-2 job3) Tax professional will handle4) Anything related to the property and you running it as a business.

17 June 2024 | 6 replies
There are individual a/c,heating, gas/electric, shared water, units and each unit is individually privately owned. 2 stories, no elevator.

18 June 2024 | 8 replies
oh yea, I recently started my own business (2021 was my fist year in business, commercial door company, non real estate related venture) and gave up my w2 income and was already denied another refinance on my primary due to lack of self employment history. this was with the bank my business uses with and they want 2 years of self employment income on the books. end of 2022 will be 2 years so financing may be an issue if I want to 1031 now, but i havent really thought all of that out yet either.

19 June 2024 | 4 replies
I'm sure you will gain some interest from potential investors then maybe they can supply you with the down payments and you can pay them back over time and you could buy more per year.From what I know, business is a slow game and from what I hear, successful Real Estate Investing can be boring.

19 June 2024 | 13 replies
If they can't or won't meet that test (for any alleged reason), then no point in doing business.

18 June 2024 | 9 replies
I have all of the drive to be successful in this business and I have finally taken action.