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6 July 2024 | 22 replies
If they do not have the money to pay rent and/or have the money and do not prioritize paying rent there is little you will be able to do to change that in most cases.Just be sure to factor into your numbers the cost associated with evicting these tenants if they fall behind.
7 July 2024 | 10 replies
But don't forget to factor for future appreciation...if you (or your Realtor) strongly believe that this area/house will double in value within 5 years, then that is a different animal.....
6 July 2024 | 7 replies
Depending on the state would be a huge deciding factor in how your entity is set up.
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5 July 2024 | 8 replies
Also, one of the biggest factors in looking at comparables is the finishes of the properties.
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7 July 2024 | 3 replies
I recently completed a hybrid house hack-BRRRR-ADU build combo which I'm extremely stoked to say worked out almost completely to plan.
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3 July 2024 | 3 replies
Hello BP Family,Just wondering your thoughts on New Builds as an investment- whether it be a build and sell or build and hold long term as a rental.
5 July 2024 | 3 replies
Consider factors like neighborhood, school districts, and proximity to amenities.Financing and Mortgage Considerations:Investment Property Mortgage: Understand that an investment property mortgage may have higher interest rates and require a larger down payment compared to a primary residence mortgage.Future Refinance: Consider the possibility of refinancing the property when you decide to move in, potentially lowering your interest rate and monthly payments.Loan Types: Look into loan types that might offer favorable terms for investment properties, such as conventional loans or FHA loans if the property meets the criteria.Rental Management:Long-Term vs.
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8 July 2024 | 8 replies
.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.
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7 July 2024 | 5 replies
In 2018 I wrote an article about how I used VA loans to build my portfolio.
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5 July 2024 | 9 replies
These options vary state by state.For fix and flip loans, lenders generally want the combination of the purchase price and the rehab budget to be over $100K while also factoring in a 10-20% down payment from the buyer.