
9 January 2019 | 13 replies
One way is to set up deposit-only ATM cards for each tenant (different banks offer these) that they can use to make the deposits but that you can deactivate if you're going through an eviction (provided there is an alternate method for them to make rent payments).

16 January 2019 | 8 replies
Also given that 75% LTV cap, not sure how many times you could continue to tap the same houses over, so not sure about 'continue indefinitely'.Selling one is definitely an option to explore as well -- although if it is cash flow positive now, possible trade-off of future appreciation if you sell now.All in all, sounds like a good problem to have!

8 January 2019 | 4 replies
Welcome and congrats on deciding to explore real estate!

13 January 2019 | 36 replies
Definitely in agreement with Eleanor Decker's method.

8 January 2019 | 0 replies
Hello again biggerpockets im going to start out using a HELOC from my old man’s house he will be having around a 200k heloc pretty soon and i will flip my first home some time late january or early February using a 100k or less of that helocI have recently made an amazing encounter with a broker that is in charged of selling off a local credit unions foreclosures and i have to say even with my inexperience’s in flips there is money to be made in my local market Currently looking at a property that is foreclosed on might go for 55k or 60k bank hasnt approved a price yet took a contractor that i trust and another one i never dealt with and around a similar bids 25k-35k repairs needed1950’s home has been updated electrical wise plumbing still not sure will get inspected and foundation is sound on slabNeeds roof redoneKitchen1 full Restroom1/2 restroomDriveway workDetached Garage work (door and cement work)Redo kitchen cielingRedo living room cielingMove electrical outletsRedo floor or overlay with laminate (ugly old tile)New paint in and out(ultimately on what i choose material wise prefabbed or custom) a recent house 3 houses down the same road was recently flipped and sold for 140k is sightly larger 1280 sqft vs 1080sqft (one im looking to buy) the realtor i deal with works for this broker as well and comps match the area for what the house sold and ultimately said if i fix n flip this property i should see minimum 125k selling price high of 145k (market is hot at the moment) Given i should over estimate the rehab 35k rehab 55k purchaseAll in at 90k Sales at minimum 125kPotential profit 35k minus holding cost expenses and commission to realtor should be arund 27.5k profit If this works out i would repeat and do more flips jn the future to build up enough cash (really want to build up 500k cash not counting HELOC) to were i can do multiple flips at a time and keeping 1 free and clear to have a high cash flowing sfr rentals sooner then just 200$ a month per door really want to have 800$ a month cash flowing properties I know alot of people like over leveraging and using OPM’s but this is my realistic niche i can accomplish especially in the hot market im currently inI run a restaurant as my full time “job” but can definitely get out and manage my contractor and have worked with him in the past, for sure one i get the hang of flipping ill probably stick a manager in my place and go full time flipping myself if it goes smoothly (never does i know)Would this method be worth while to build up cash fastest way without leveraging and using OPM’s for now with SFR’s and flipsGo easy on me i been reading alot of books and listening to podcasts daily and get the lingo of the real estate investing world and alot of different ideas from what other people have done in the past to be successful Like episode 121 from bp real estate podcasts those guys are my age and killing in their 20’s yes all hands on but they going strong for sure(Sorry long read)

9 January 2019 | 3 replies
There's can obviously be a big difference between the two methods.

17 January 2019 | 18 replies
Props to you for taking the time to explore and learn.I assume with those numbers you are planning to finance both the property purchase and the rehab costs?

8 January 2019 | 0 replies
This can prevent two extremes: under pricing below market and over pricing and having an idle asset.I believe this method will provide a proxy rent strong enough to do deal analysis with, particularly in a well diversified portfolio.Let math do the heavy work and massage as necessary for finishes and how fast (or slow) the unit needs to be rented.
12 April 2019 | 11 replies
I've learned a lot from them (happy to help you with that if you want), and made a few mistakes with them, but ultimately I still prefer them as my method of investing.2.
17 August 2018 | 5 replies
Currently I just use craigslist and hotpads.com to get an idea of the market rate rent is in an area. What are some other resources or tools that you can use to find out more information?