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13 May 2024 | 4 replies
I notice a few comments from out of state lenders/brokers that are referencing what seems like the property taxes and/or transfer taxes, not mortgage recording tax.In NYC transactions, property taxes are pro-rated and sellers + buyers pay for the portion they're responsible for (depending on the calendar schedule of the county + closing date).
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15 May 2024 | 15 replies
This is the reason the best policy is to give regular/annual rent increase which would avoid your present landlord fears.Just send the notice in the email with the amount and date effective.You would be farther ahead if you did not fear the responsibilities of being a landlord and simply raise the rent to market or get a new tenant.
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13 May 2024 | 11 replies
Here's his meetup.Austin Apartment Investing Discussion
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10 May 2024 | 23 replies
In my experience, CPAs are extremely responsive in year 1, lag significantly but not alarmingly by year 2, and then respond only after a week between emails and 6 follow ups after year 3.
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12 May 2024 | 3 replies
The background: My husband is a professional homebuilder and we'd like to have more flexibility (we have several very young children) in his workday.
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13 May 2024 | 4 replies
Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?
13 May 2024 | 4 replies
To be fair, Engelo did say cap rates would probably be a couple percentage points below what he advertised through his frequent marketing emails.
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11 May 2024 | 4 replies
I've been trying to connect with local wholesalers to get on their distribution lists, so I'm right at the heart of the action.I'm based in McHenry, IL, and I'm on the lookout for tips on finding like-minded people in the area.
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11 May 2024 | 9 replies
What I appreciate about his posts is they aren’t copy/paste blasts about investing in this area or in this way.
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13 May 2024 | 7 replies
In that case you'll need to ask the seller to replace at his cost followed by an inspection that you will pay for.