Victoria E.
Seeking advice on Seller finance terms
2 September 2024 | 8 replies
Some terms you may find helpful:Repayment Schedule: Clearly outline the payment schedule (monthly, quarterly, etc.).Balloon Payment: If applicable, specify the amount and due date of any balloon payment.Prepayment Penalty: State if there’s a penalty for paying off the loan early.Default Terms: Clearly define what constitutes a default and the consequences, such as foreclosure procedures.Insurance Requirements: Ensure the buyer maintains property insurance.Maintenance Responsibilities: Clarify that the buyer is responsible for property maintenance and repairs.I hope this helps you out, have a great day!
Julio Gonzalez
Multi-Family Properties and How to Maximize Returns
3 September 2024 | 0 replies
There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.
Wiley Strahan
Setting Up Systems to Scale
6 September 2024 | 24 replies
Define what you want to manage.
Sara Valentine
Colorado requirements for smoke and carbon monoxide alarms??
2 September 2024 | 2 replies
Oddly enough in this document they define multi-family as: “ "MULTI-FAMILY" means a structure containing three or more dwelling units or a bed and breakfast dwelling that has six or more guest rooms.
Jef A.
100k to invest looking for direction
5 September 2024 | 19 replies
I have found that the returns match or beat the returns from active investing and it's easy to figure out why - I am hiring professional asset managers to manage all aspects of my investment.
Becca F.
What makes someone qualified to be a guru/coach/mentor?
6 September 2024 | 19 replies
Conversely, someone with a smaller portfolio might have a WIDE variety of experiences and expertise in a lot of areas because they are hands-on in all aspects of investing and could give you guidance you can employ in ways that suit you best.
Michael Calvey
Are Airbnb bans actually hurting renters, homebuyers, and your local economy?
5 September 2024 | 26 replies
Seems like this problem is from all aspects and not just one real estate strategy.
Samuel S.
Buildium vs Quickbooks; Use both?
3 September 2024 | 10 replies
I've been reading a lot of threads on here pertaining to which property management software works best, but so far my understanding is that both of the above offer unique aspects that the other doesn't provide; Would it make sense to use both?
James Keeton
Rate and Term Refi After Hard Money
30 August 2024 | 6 replies
Velocity of money, or speed in which you can complete a BRRRR investment and repeat, is key to success, and refinancing with the shortest seasoning requirements is highly important.Loan terms and interest: Cash flow is also an important consideration for a refinanced rental property, so attaining a low interest rate, as well as other aspects of loan structure (term, amortization, or interest only, etc.), plays a big role.Generally, there are three main refinance options for BRRRR method investors: Conventional loansBank/credit union loansDSCR loansConventional loans are generally defined as loans originated under GSE (Fannie Mae/Freddie Mac) rules and guidelines and securitized.
Ryan Gyllenband
HELOC in Texas on Investment Property
4 September 2024 | 39 replies
CU TXBank of TX FrostExpert Law TexasSpecial aspects of Home Equity Loans in TexasThe Texas legislature has passed laws that are designed to protect homeowners and their families, and the state did not even allow home equity loans until 1997.