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13 January 2022 | 7 replies
Seller financing allows the seller to get a lump sum now, and still get a stream of income (from your new mortgage), and it spreads out the capital gains, which is a tax WIN.
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11 January 2022 | 8 replies
So if you can use your first deal to get you to your 2nd and 3rd...big win...Otherwise that $32k would just be sitting in the house earning you $150/mo or 5% annual returns...based on this first project, I'd bet you could earn more than 5% with that money by BRRRRing another house...
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17 January 2022 | 7 replies
A HELOC is essentially a high limit credit card that you pay yourself interest on.
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13 January 2022 | 3 replies
Especially in today's market, it will be tough to win with an offer without a proof of funds or preapproval letter.
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16 January 2022 | 38 replies
But keep in mind, the best influencers are the ones that are able to influence others without others even realizing it.Here’s a list of all the people that I influence when it comes to real estate investing:my bankers through keeping enough in reserves and having enough cash flow to lead them to want to give me loans on my properties.The people who work for me by being nice to them, encouraging them, providing a good work environment, paying them, and helping them get their own real estate properties.My business partners by trying to be fair, making sure that they benefit from the partnership, and by helping them reach their goals all while helping me reach mine.My tenants I incentivizing them to take care of all the smaller issues that come up in the home by discounting the rent.Sellers by finding out how much they need to get out of the sale of their home in order to help them solve the problem that they’re in, then we work together to make it a win-win situation.Title companies by sending them previously closed settlement statements explaining how to put the rehab credit on to the settlement statement.Wholesalers and realtors by telling them that I own 200 properties and I am a serious buyer and that I will buy the property if I am able to buy a property A certain way or at a certain price, and that I will close on the deal as long as it is according to how they presented it.
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15 January 2022 | 10 replies
I've personally achieved growth from Dale Carnegie's book "How To Win Friends and Influence People" and choose to revisit the teachings at least once per year.
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13 January 2022 | 3 replies
Decide to feel like a champ before the actual win!
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17 January 2022 | 5 replies
For a conventional mortgage, (the loan type best suited for your plan), you will need more than twice as much monthly income as monthly debts (including the new mortgage, student loans, car notes, credit cards, etc.).
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18 January 2022 | 15 replies
Read books, listen to podcasts, go to local meetups, look and analyze properties, make investor friends online, consume real estate content, go to physical and virtual conferences, to name a few. real estate is sort of a long game, you'll always be learning so once you make good habits the wins will follow
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30 January 2022 | 4 replies
I don't plan on making money, but to be able to take out what I put in with instant equity seems like a win win.