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20 June 2024 | 37 replies
At this point I still have not received any additional quarterly payments and have no idea what is going on with any of the loans aside from a very infrequent and vague response form Scott like “one loan has made a few payments and we are working with legal to cancel the contracts on the rest.”
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18 June 2024 | 17 replies
I've been looking for a reputable attorney to work with but havent found one locally yet to hold my hand through DD on the first few deals.
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17 June 2024 | 2 replies
Hello Mark,The tenant rented your property with the older garage and it is still working, so I would hold off on the new garage.
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19 June 2024 | 18 replies
Hey mate,Thick skin is needed on this forum and in business in general 🤷♂️I just posted something similar on another thread and the best advice I can give is spending enough time finding the right people on the ground before looking at the prospect of a market or a deal.Especially when doing BRRR out of state which is a very tough gig IMO.You can find the best market, with the best growth potential, find the best deal with the best cashflow but if your realtor isn't genuine, your property manager is incompetent and your contractor is a cheat.You will loose money.Also, underestimate your income and overestimate your expenses on every deal and business opportunity.If you think it won't happen to you, I can tell you right now that it unfortunately will...I've completed hundreds of flips and rarely come in at budget from a rehab standpoint.So keep that in mind.Appraisers are a joke and easily manipulated.They follow weird data and many want to cap you intentionally (No idea why...) on the ARV.They play it safe and can see how much you paid and what you spent on rehab so they will cap the value and come in under fair value on many appraisals.I stopped dealing with selling to investors looking to finance many moons ago as it wasn't efficient from a business perspective and I'm not in the business of using "in-house" lenders and manipulating appraisals like many others do.
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16 June 2024 | 27 replies
I wasn’t sure if it is a bad or a smart idea to use that for investing!
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17 June 2024 | 7 replies
I tried to give them a call on Friday but couldn’t get a hold of someone.
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17 June 2024 | 12 replies
However, they are proposing dissolving that partnership and allowing original investors first opportunity to participate in providing an additional 22% of our original investment, speculating a hold until 2026 with a 202% return on the new funds, resulting in a "blended return" of about 36% total return of our original+ new invested funds.
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17 June 2024 | 3 replies
I don't typically recommend a cost segregation study on a short-term hold since you don't get to see as many of the benefits, but if you 1031 exchange the property, it allows you to continue to defer the tax.
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18 June 2024 | 12 replies
I used to think Vrbo guests required more hand-holding, but lately my Airbnb guests have many more questions for me before their stay.
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16 June 2024 | 12 replies
Take every con-ed class you can and sit in on every sales meeting your brokerage holds. 2) Be available whenever your client is available.