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25 November 2024 | 19 replies
Like replacing the doors/ locks, etc. and its getting frustrating.Whenever I articulate my frustrations to my wife it causes friction within our relationship I want to get this house rented asap but I wanted to get a barometer to see if perhaps my expectations are a bit unrealistic , especially with consideration that no one could get in the house due to the fleas until recently.
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20 November 2024 | 5 replies
I'd like to slowly move towards the investment and property management to hopefully replace my W2 income, slowly but surely.
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19 November 2024 | 3 replies
The best way to position yourself for a successful 1031 exchange is to be as proactive as you can when finding your replacement property.
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20 November 2024 | 18 replies
We've got many clients that buy them as pure rentals also. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.
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21 November 2024 | 3 replies
My understanding is that in order for Investor A to use the 1031 exchange to defer taxes, he has to purchase replacement property and not use those sale proceeds for his other properties -- or quite frankly, anything else.
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22 November 2024 | 92 replies
It's not going to cost you 10x the price to replace the HVAC in SF, than it will to replace it in OK.
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19 November 2024 | 1 reply
However, if you ever want to replace that home, you'll have to move it off his lot.I would consider appraising the vacant land and trying to cut a deal that's fair.
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18 November 2024 | 35 replies
However, it is one more thing to fix/replace if it breaks, whereas it is the tenants problem if it is their unit.
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22 November 2024 | 9 replies
I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.
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25 November 2024 | 36 replies
I like that baseline seems like a good replacement for Quickbooks, as well.In regards to having multiple accounts, I’ve been told that Chase is a bank that allowed for this, but I also don’t trust that Chase wouldn’t be taken out with the other banks failing, so I don’t know about using their accounts, either.If you happen to come by a bank you would trust, I appreciate if you’d share.