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13 May 2024 | 8 replies
If you have inventory in your area that require renovations, distressed homes, outdated and you can pick it up for a good deal.
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15 May 2024 | 16 replies
You'll want to make sure you understand the K1/tax filing implications because if you own very small piece of let's say 10 properties in 10 different states you would potentially receive 10 K1s (one for each deal) and 'may' have tax filing requirements in 10 states.
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13 May 2024 | 1 reply
Contractor buying material more than required and using extra material in other projects?
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15 May 2024 | 12 replies
If you buy a primary first, the second one will require not only a good 15-20% down, but your DTI will potentially limit you on what you can qualify for on the next.
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13 May 2024 | 4 replies
Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?
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13 May 2024 | 4 replies
It is challenging but we committed to going there every 4-6 weeks and having a great team on the ground ( will cost you some extra money) but they are the difference in having issueswe have one of the best cleaners in the area and our guy that cleans the grills does all my light maintenance and guest interaction if I need it(pets, too many guests etc.)3-4 hours would be a dream and you can definitely do it but you have to commit to going there every 4-5/6 weeks In my opinion because there will be things you need to address or upkeep- this is obviously only if you decide to self manage.
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15 May 2024 | 14 replies
If this is a refinance, a lot of lenders are looking at values more closely and will either agree with the appraised value, require a secondary report, or just cut the value all together.
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15 May 2024 | 4 replies
Court confirmed sales prevent you from assigning contracts, while Full Authority sales (which only require noticing) get so much attention from competition that margins are compressed to the point of not worth the trouble for all but a few.If you actually have your own funds (!)
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14 May 2024 | 5 replies
We do allow a well-trained dog, preferably large, no puppies and no breeds not covered by our insurance (vet records showing breed, age, proof of current vaccination and any required pet license).
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14 May 2024 | 5 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?