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29 December 2020 | 40 replies
The repairs are something I've already thought through - I plan to speak with each tenant at the beginning of their lease term and also provide them a PDF/work doc that outlines what to do when a repair is needed.
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28 September 2018 | 4 replies
I will outline my current system below along with some questions - any advice on where I should focus my efforts would be appreciated.I am not wholesaling right now; strictly looking for my own deals.Target properties: Looking for low-end BRRRR's (ARV <$120K) and low-to-mid-end flips (ARV $120K-$300K).
28 September 2018 | 5 replies
This agent may have outlined the work to ready the property for market and the work may be underway, by the guidance of the agent.
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27 September 2018 | 5 replies
Seller still owns the property and the JV agreement outlines how I put up the remodeling expense and then at the sale he gets X out of it (whatever our agreed price is) and I receive Y out of it (proceeds above seller's agreed price?)
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27 September 2018 | 5 replies
Outline your expectation very clearly and then if he is not following your directions you can consider changing.
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27 September 2018 | 2 replies
@Ashley DavisPermit responsibility can be outlined in the actual contract you signed with the general contractor and they will charge the cost of any permits required.
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29 June 2018 | 6 replies
Yeah, he's the guy that's on all our podcasts, but the man wrote a great book that outlines so many strategies that really allow you to expand your financial possibilities.It's less than 200 pages, and I read it in 3 sittings.
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2 January 2020 | 30 replies
Of course, the more details you share about the property the better, so here's a generic outline to make sure we get all the necessary info to evaluate what to expect:Property Type: (Condo, Single Family House, Multifamily Property)Total Doors:Purchase Price:Year Bought: (Buying at bottom of market obviously makes for more cashflow today)Financing: (Cash purchase, financed with percentage down, lease option, etc.)How You Found Property: (MLS, Off-market, Wholesaler, Foreclosure, REO, etc.)Property & Neighborhood Rating: (A-F, 1 to 10, neighborhood quality and condition of property)Net Cashflow Per Door:Cap Rate, CoC, Appreciation, Etc.: (Any other metrics or ROI figures you think are important to the deal)You can either answer in this format or write a paragraph or two including all the details.
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7 August 2018 | 7 replies
Form a legal partnership with all the outlines for who gets what, who contributes what.
15 July 2018 | 3 replies
You should get a HUD aka closing statement that outlines exactly how proceeds are distributed at closing and who is due what amounts.