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3 July 2024 | 2 replies
A great way to network and meet people in your local community is to attend in person meet ups.
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3 July 2024 | 24 replies
Also, they should stress-test their properties to handle any potential equity changes or loss of rent.
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3 July 2024 | 7 replies
Since you are just graduating college you may already realize that it's not what you know, but who you know (as a personal note, I had college friends that were barely passing their classes however they ended up with really good paying jobs due to "who they knew").
3 July 2024 | 2 replies
(If you sell and don't 1031 the property, then you'd have capital gains taxes too if held for over a year, personal income taxes if under a year.)Property taxes should be looked at as an operating expense.
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1 July 2024 | 2 replies
In many cases a simple LLC with an operating agreement can handle what you are trying to achieve.
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3 July 2024 | 8 replies
Don't let it stop you from investing in the future. in the meantime, how much personal cash flow do you have to pay the mortgages?
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3 July 2024 | 3 replies
I'm willing to leave the property empty for a year to take advantage of owner occupied loans, if that's possible.Here are my estimates..Property: 1,355 sq ft, | 3br 2bath | 8,500 sq ft lotComps / ARV: 500-560k ~ 530kTotal Needed: 340-400k ~370kSale Price: 270-310k ~ 290kRenovations: 70-90k ~ 80kSevere cleaning needed (doing myself)Severe landscaping needed, it's a jungleI'd like to maximize potential value and be at the top of in-area comps, so would like to do a full gutCash on hand: 20k - 30k------------I'm considering,- Seller financing + separate renovation loan- FHA 203K (BRRR)- Fannie Mae Homestyle Renovation (if down payment is below 5%) (BRRR)------------Seller Financing + Separate Renovation LoanPros:Low down payment (via seller willingness) <= 3%Low interest rate (via seller willingness) <= 3%Cons:I'm unaware of how I can finance rehab without a personal loanMust cash-out refinance to obtain equity, conventional loan rate will not be as good------------FHA 203KPros:Low down paymentBundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------Fannie Mae Homestyle RenovationPros:Bundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------I may be totally off on what would be optimal here but wanted to provide my current thoughts.
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3 July 2024 | 6 replies
They can provide personalized advice based on current tax laws and your individual circumstances.Please feel free to reach out to me directly if you need!
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2 July 2024 | 10 replies
Tenants wants to add new flooring and they take it out of the rent payment.How do you usually handle this?
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3 July 2024 | 6 replies
I heard they are scamming people, but never dealt with them personally