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9 April 2024 | 14 replies
Here are some quick pieces of advice: - GET MARRIED BEFORE BUYING A HOME TOGETHER (It would likely be a nightmare if you guys break up and own property together) - The more comfortable you need to be, the less of a "deal" you'll most likely get (that's not a fun thing to hear, but I wanted to make sure you did).
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9 April 2024 | 3 replies
I have 200k in liquid cash (yes this was self earned thru 5yrs of sacrifices and hard work 12-16hr days 7days a week with maybe a month in the summers as break to see family back home, but i dont want to do this forever) My dad and I want to be partners going into these deals. there is a new construction 4plex i am looking to build which will be 775k that i will put 25% down (half me half my dad) which will cash flow net 2k /mo if i rent it out LT (COC of 11% which isnt bad and apparently my agent who recently worked on a neighboring new build said the appraisal after its built is mid/high 800s, also my plan is after 2yrs to REFI at lower rate). i am considering to have 2 of the units as MTR for local nurses or construction crews which of course can increase profits much more.i also have a 3acre property that i am thinking to build small 2bd 1ba cabins and use as STR/MTR/LTR. but i am also wanting to do do STR as i love the concept and have watched Robuilt everyday learning from him. i am looking to buy land in a mountain/ski town (189k 10acres) and build a beautiful aframe and use as a STR. all these property ideas are close by to me so i will have a close look on them and will manage myself. i have just been consuming knowledge endlessly the last 3months in preparation for this decision.but as you can see my head is all over and im unsure what the correct first step will be. i have many goals and visions of what i want to do i just need some help making a correct first decision on those who are far more experienced than me in this real estate space so i use my capital in the most efficient way. i understand real estate is long game and i have no issues with that but i would like to at a minimum cashflow 100k a month by the time im 30. this is a big goal but i have 8yrs to do this. thank you for your help i look forward to the responses(side note: i am not considering house hacking as i live with my family, this will possibly be an option in the future)
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10 April 2024 | 3 replies
I'm trying to figure out if I can get some sort of rider from the company to include them but otherwise it leaves me very vulnerable if someone brings in an ESA.
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10 April 2024 | 8 replies
Define your risk tolerance & budget - if you lost it all, would it break you financially. 3.
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10 April 2024 | 2 replies
It is a condo building and I did include questions about type of window, if anyone has ever replaced any windows (built in 04 so guessing not).
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10 April 2024 | 7 replies
By the time you get to know the market, you'll have a better understanding of the players, including the wholesalers and investors.
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10 April 2024 | 6 replies
He is responsible for the documentation, which includes a letter from the IRS, and he administrates everything for us including periodic paperwork updates.
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10 April 2024 | 3 replies
Many of the people here on BP unfortunately do not understand how to evaluate risk - because if they did they would not be doing a lot of these creative finance deals we are seeing that include having to borrow for the down payment because they have zero liquidity.
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10 April 2024 | 4 replies
I am always down to talk about real estate investing in Columbus, Ohio.I can share insights on investing on both single and multifamily properties, including out-of-state investing.
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9 April 2024 | 3 replies
I will be breaking even as far as cash flow but someone is still paying my mortgage.