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15 October 2024 | 5 replies
It sounds like you've put a lot of work into this renovation.First, let's break down your options:### Selling the Property- You've estimated a potential profit of $58k, which is a significant return on your investment.- Selling now would give you immediate cash to reinvest or use for other purposes.### Renting the Property- With a projected rent of $1450, you need to calculate the Debt Service Coverage Ratio (DSCR) to ensure it's viable
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17 October 2024 | 1 reply
I look at it through the lens of: 1) If I contribute to a pre-tax account like a pre-tax 401k, Traditional IRA, SEP IRA, I get a tax deduction, but now I'm in a partnership with the IRS, but I don't know what I will have to pay them later on in life when I start pulling money out (that is because when you distribute you pay taxes based on your effective tax rate at that time, which can be unknown). 2) With Roth accounts, (Roth IRA/Solo 401k(k) with Roth component), I can get the taxes out of the way on the seed, so I don't have to pay on the crop.
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15 October 2024 | 5 replies
@Noam KorenThe historic northeast is like any C area, with good PM you can have great cash flow and with bad PM you can have very bad results (trashed units, non-paying tenants, evictions).
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16 October 2024 | 6 replies
Companies like TSMC and Intel are investing billions into new facilities, and it's creating a real surge in housing demand.One of my clients was set on investing in Philly but decided to explore Phoenix after we talked.From what I read in The Wall Street Journal, Phoenix is one of the fastest-growing cities right now.
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15 October 2024 | 6 replies
Go with your gut - it sounds like you have good instincts.
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17 October 2024 | 23 replies
Like I said, I went to BP Con and there were 3 different lenders doing them.
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15 October 2024 | 14 replies
Some lenders will call them points, some will just have points labeled as fees like orig fees, processing fees, UW fees, etc.
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16 October 2024 | 6 replies
You can 100% refinance into a DSCR loan and close/vest in your LLC, however, I would imagine the rate is likely worse than what you have now with the conventional loan which would impact your monthly cashflow.
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16 October 2024 | 7 replies
I'm not saying you can't ask for it, but in a practical sense it likely doesn't matter on most small sales.
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15 October 2024 | 2 replies
In my opinion, this is much more effective than texting, which often feels like a constant game of cat and mouse with phone carriers.