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8 March 2024 | 31 replies
I have 200k in liquid cash (yes this was self earned thru 5yrs of sacrifices and hard work 12-16hr days 7days a week with maybe a month in the summers as break to see family back home, but i dont want to do this forever) My dad and I want to be partners going into these deals. there is a new construction 4plex i am looking to build which will be 775k that i will put 25% down (half me half my dad) which will cash flow net 2k /mo if i rent it out LT (COC of 11% which isnt bad and apparently my agent who recently worked on a neighboring new build said the appraisal after its built is mid/high 800s, also my plan is after 2yrs to REFI at lower rate). i am considering to have 2 of the units as MTR for local nurses or construction crews which of course can increase profits much more. i also have a 3acre property that i am thinking to build small 2bd 1ba cabins and use as STR/MTR/LTR. but i am also wanting to do do STR as i love the concept and have watched Robuilt everyday learning from him. i am looking to buy land in a mountain/ski town (189k 10acres) and build a beautiful aframe and use as a STR. all these property ideas are close by to me so i will have a close look on them and will manage myself. i have just been consuming knowledge endlessly the last 3months in preparation for this decision.but as you can see my head is all over and im unsure what the correct first step will be. i have many goals and visions of what i want to do i just need some help making a correct first decision on those who are far more experienced than me in this real estate space so i use my capital in the most efficient way. i understand real estate is long game and i have no issues with that but i would like to at a minimum cashflow 100k a month by the time im 30. this is a big goal but i have 8yrs to do this. thank you for your help i look forward to the responses(side note: i am not considering house hacking as i live with my family, this will possibly be an option in the future)
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6 March 2024 | 1 reply
Built a portfolio of 13 doors i over the course of 6 years while working a W2 before selling everything in 2019.Left my W2 around 2016 to work for a MF syndicator full-time for about 6 years (2016 to 2021) which grew to a little over $1B in AUM.
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7 March 2024 | 6 replies
You have that the tenant reporting the issue to you, you getting it looked at, making a determination the door was damaged and now you will send the tenant a bill for the door and ask them to take care of that during the course of their tenancy.
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6 March 2024 | 3 replies
The guy seems to have some sort of anxiety, as he got really upset when we moved them out for two days to fix something with the house to satisfy the county (at our expense, of course).
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4 March 2024 | 6 replies
I have been looking into some of the online courses from The CE shop and other online portals to buy a course to get through my realtor licensing studies, but I am confused on which one is the best one.
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7 March 2024 | 6 replies
If you have equity, income and good credit, any lender will do this.
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6 March 2024 | 12 replies
Here's the math, if we do cash out refi on our home, the payment would goes up $700 more than what we are currently paying and of course the year term loan goes from 7yrs to 30yrs.
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7 March 2024 | 22 replies
Of course, as you emphasize, having a real estate focused CPA is key to unlocking the upside, and avoiding unintended consequences, of tax tool implementation.
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8 March 2024 | 121 replies
Of course this costs more.Every comodity market has ebbs and flows, that's why people observe it as cyclical.
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7 March 2024 | 14 replies
The other thing I'll mention is that LVP is of course more sensitive to imperfections in the subfloor than carpet, which has by far been my largest issue to this point, and you may have some of the same things going on with your plywood subfloors.