California law in regards to deposits on residential projects is 10% of the total proposed project value or $1,000.00, whichever is less.

The equity split is totally different among each LLCs, but typically it's the easiest to split the responsibilities in 50/50.

My recommendation, depending on income, is to get 2-8 total properties per city and really allocate 40-60% of your intended investment before moving to the next city.

There's a 2nd account with 5 payments total and 3 of those were late.

Total of 5 bedrooms and 3 units.

There is a difference between a repair cost and a total replacement cost. 

Obviously this may vary by market but we would not accept partial payments as it does make things more challenging legally if you need to evict them.

For example, one exemption is tied to your total revenue which is $5M in gross sales or receipts in a calendar year. 

I wanted to share the numbers and want to make sense if it's a good deal for us according to what we are looking for.Price: $450k (agent said that we can get it down to $420k)2 Units (1 bedroom in each unit)Mortgage with 3 year fixed comes up to around $2.3kInsurance and tax is roughly $400Rent per unit is $1.4k so if we move out then total rent comes up to $2.8kThere's a detached ADU (garage) that can give us another $100-$150 if we rent it for storage and there's a scope of converting it into another unit later on.So currently rough calculation says that it can cashflow up to $300 per month.

Obviously, 2024 was a strong year for the stock market.