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22 February 2024 | 11 replies
Also, if you say no financial contingency, then what happens if after I get the property under contract and present it to my investors they start back-stepping,"In one breath you say you are fix and flipping but in another mention the phrase above which tells my you are a wholesaler of a contract and not a cash buyer.I don't know why people intermix the two.The difference matters to an asset manager.If you give them a quick close,no contingencies,cash in your bank account that you control valid within the last thirty generally you can get much lower offers accepted.Now it all depends on what type of property you are going after and they type of bank or government institution involved as to how much impact a certain strategy will have.
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23 February 2024 | 5 replies
"Lower quality" I honestly would be investing, but I guess semi-gloss if you were really interesting in putting in the labor to wash the surfaces.
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23 February 2024 | 4 replies
The homes we are looking at are between 75-120k and I would really like to stay in the lower range of that so we can generate a better monthly cashflow, however I am learning that most lenders will only go as low as 75k (which would actually be a 100k deal with 20% down).
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23 February 2024 | 4 replies
The good news is that if you already have some experience or once you get around 5 or so, the leverages will get better and rates may even a little lower for you.
23 February 2024 | 65 replies
Here's some information which I hope you may find meaningful:1)Renting a property to a family member at a rate significantly below market value may raise red flags with the IRS, as they might consider it a personal arrangement rather than a business one.To qualify for tax deductions, it's crucial to treat the arrangement as a legitimate business transaction.
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24 February 2024 | 9 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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23 February 2024 | 18 replies
Some first time home buyer will overestimate their DIY skills and underestimate the scope of work and cost.While equity is a percentage (ideally 25%) rehab cost is a dollar amount that does not go down with lower priced properties.
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23 February 2024 | 14 replies
I have a portfolio of under 10 properties.In their services performed, my CPA wrote: "Preparation of 2016 federal and state individual income tax returns, including organization and analysis of transactions.
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23 February 2024 | 6 replies
John Erickson The reason HostAway doesn’t show pricing is because it’s flat rates per listing and gets lower depending on how many properties you add on.
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23 February 2024 | 9 replies
Considering that the prices are still WAY lower than CDA, it may be perfect for you.