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27 January 2025 | 48 replies
This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).
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27 December 2024 | 2 replies
We plan to remove them all to protect from tax increases on our current primary, but I am afraid that now that the other properties won't have homesteads, we may see skyrocketing tax bills and it will eat into already small cash flow from rental income.Does anyone have advice for how to handle this situation other than just increasing rent?
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8 January 2025 | 11 replies
While borrowing for a down payment is risky, increasing your savings will lower your interest rate.
31 December 2024 | 8 replies
Thus, my taxes should be higher because of the income I generate.If I pay off the primary, I'll increase the amount I'm able to save monthly not having the mortgage, while also keeping the income generation lower on the rental because the mortgage remains open.Any thoughts would be appreciated!
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30 December 2024 | 1 reply
Hindsight Critique•Continue to build relationships to increase deal flow•Property manager (Mercer Hughes) is critical to completing renovations and quick tenant placement•Continue to build relationships with private lenders and personal investors•Have cash available to make quick competitive offers Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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19 January 2025 | 51 replies
There is only a $3 difference increase to move to RentRedi, but the customer service is amazing.
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2 January 2025 | 11 replies
It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.
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27 December 2024 | 15 replies
They may also require US credit history, although there are a handful that will not require a US credit report for an increased rate/ reduction in LTV.
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3 January 2025 | 7 replies
Further, BPOs and appraisals show the properties have increased 50 to 60% in value during the last 3 years.
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2 January 2025 | 21 replies
It's a riskier loan given you do not carry a social security, no US credit & no experience.Due to increased risk comes mitigation (Lower LTV & Higher Rates)