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21 December 2024 | 7 replies
If I finance the rebuild then the 1031 exchange presents some challenges (I will need to land a property that cash flows or breakeven so that I can get the loan for my rebuild, or banks will count that debt against me).
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17 December 2024 | 6 replies
Your 3% rate likely helps you with cheap debt and without the need to chase high that normal rental rates.
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19 December 2024 | 8 replies
I used a LOC to build a 12 site RV park in a small town, opened it up and 1.5 mnths later, I'm full occupancy and servicing the debt (some of it at 8.75%) & cash flowing.
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20 December 2024 | 28 replies
Consolidate your Texas Series LLC to own and manage your Texas LTRs and STR, eliminating the need for the Wyoming LLC and C-Corp unless specific anonymity or tax advantages justify their costs.
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15 December 2024 | 3 replies
You can refinance it into a conventional loan and that helps avoid the higher down payment.FHA also offers more wiggle room when it comes to DTI debt to income ratios and reserves requirements.
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14 December 2024 | 2 replies
For me I have 3 main goals I am shooting for:1) Pay back the debt I acquired purchasing rentals this year.
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17 December 2024 | 11 replies
If you do you may run the risk of piercing the corporate veil of your LLCs making you personally liable for business debts.
13 December 2024 | 15 replies
You are required to disclose that debt, and it will be a fairly easy catch for an underwriter, even if it's not on your credit report.
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17 December 2024 | 42 replies
Bob arranges the money for Joe, so the bank is short again even though Bob could have paid more on the debt.
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13 December 2024 | 7 replies
More importantly, get the high interest rate debt paid off first.