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3 October 2021 | 2 replies
Aside of things like properly identifying parties, property, competence of the parties, mistake, fraud, meeting of the minds, etc, there are three essential elements required to form a binding contract:Offer - one party offers to sell, lease, or otherwise transfer ownership of an item to a buyer.Acceptance - the other party accepts the first party's offer.
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8 October 2021 | 13 replies
Now running all the numbers and taking into account a worst-case scenario (3 units rented instead of 4 as it is currently, all 3 rents below market value, no renovations, etc.), I still had double-digit cash on cash return value and other numbers.
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4 October 2021 | 8 replies
Also not the worst idea to just use a commercial bank with a construction loan.
4 October 2021 | 24 replies
But even then, a lot of contractors are operating overscheduled and don't have time to come back and correct their employees mistakes.
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5 October 2021 | 4 replies
The problem is the amounts are all over the place between all sources and I wan to make sure I'm using correct numbers; I usually run a worst-case scenario just in case I need to rent ASAP and make a decision based on that number.
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3 October 2021 | 2 replies
This prompted me to ask my agent to verify that those parking spaces were included in the deal and she said yes after the talking to the owner's agent.The problem is that I received confirmation verbally and I have come to realize I never verified that it was in writing.The PM next door now wants those parking spaces for their tenant which will leave me with only 4 parking spaces for 4 units that are 2br/2bath.It realize I made a rookie mistake for not verifying this in writing so I am now evaluating cost and planning to expand parking space in our property but I wanted to know if you can share some of your wisdom and see if there are other ways to approach this situation.Thank you for reading.
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3 October 2021 | 0 replies
As of right now I have about $18,000 in Bitcoin / crypto’s that I want to make sure I break even on taxes if I pull it out for real estate Does anyone have any tips of what I should do, or if you think I’m doing something to where I could make a mistake please let me know… I’m still struggling to find a place where I can find a loan / partner to help fund what I’m looking to do.
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3 October 2021 | 0 replies
Worst house on the block in a great neighborhood.
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11 October 2021 | 6 replies
I would recommend being patient and waiting for a more buyer advantageous time because on your first few investments you have a higher probability of making mistakes.
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5 October 2021 | 5 replies
This is a common beginner mistake.