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5 June 2024 | 13 replies
@Dennis Gallof In addition to the safety concerns ....Good luck trying to evict a non paying tenant in an illegal apartment.
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8 June 2024 | 1 reply
I will be working remotely which means I have the opportunity to live at home with my parents and focus my income on building a real estate portfolio.1.
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6 June 2024 | 5 replies
@Jonathan Bock The property has no liens so the passive income from a rental will be decent towards the new mortgage.
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6 June 2024 | 3 replies
Savoy investors use them for additional fire power when buying deals.
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6 June 2024 | 7 replies
Lenders have to meet additional regulations if you plan to live in the property which is likely why you are continuing to get that question.
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6 June 2024 | 5 replies
Here are a few I can think of:Make sure you have right of entry and inspections No other occupantsNo pets unless discussedmust keep on utilities at all timesmust change A/c filter monthly unless you are doing soMake sure you have a late fee policyNo additions or alterations to the propertyMust maintain renters insurance
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7 June 2024 | 3 replies
If income, or credit is an issue, Learn and get good at something related to real estate and then eventually you can add value to an investor and potentially do a joint venture.
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4 June 2024 | 10 replies
Additionally, it's hard to convince someone to trust you on the purchase of their biggest investment/asset when you yourself don't own real estate.
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6 June 2024 | 8 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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6 June 2024 | 0 replies
Additionally, our strategic marketing efforts highlighted the property's new features, attracting buyers quickly.