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2 July 2024 | 10 replies
It is a basic question with many variables and posting here already yielded insightful helpful comments.
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3 July 2024 | 4 replies
Reading through some other forum posts, it looks like there are much simpler partnerships, entities, or offerings that would meet what I am trying to do:My Role:-Decide on properties to purchase, mostly SFHs-Establish LLCs or other business structures to hold the real estate and distribute returns-Purchase properties, using loans as needed depending on the ROI/cash flow desired from investors-Act as property manager for the properties-Depreciate properties held in business entities to minimize taxable income to investors-Distribute returns to investors-Create investments that have high cash flow (CF) and low appreciation (App) , moderate CF and App, low CF and high App-Find investors from connections, friends, and family with no public advertising-Advise in a minimal capacity on tax and real estate strategies-Send investment reports to investors-Be fiduciary to all investors-Receive compensation from PM and other management work I do related to the investmentsInvestors:-Can be non-accredited -Invest as little as $1000-Can use retirement accountsWhat references can people recommend for me to learn about business structures, partnerships, securities, taxes, or other topics to get me started on learning what will work for my goals?
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3 July 2024 | 5 replies
Are there any local or semi-local banks that offer loans to those with no experience?
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5 July 2024 | 19 replies
You would of course not deplete all of your cash reserves on the down payment in order to service the monthly debt payment and carrying costs, but this should give you an idea of what you can accomplish now if the time is right.Many hard money products offer 100% funding for rehab costs so you would not need to save for this portion of the BRRRR project.
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2 July 2024 | 5 replies
Does anyone have any insight on this area as we currently live in another state.
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3 July 2024 | 6 replies
Quote from @Samuel Fish: I'm here because I recently came across the offer and after hearing their asking price I realized that I need to do some research!
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4 July 2024 | 1 reply
That means a column on a spreadsheet for each property (tax number) and a comprehensive list of items on the row side of the spreadsheet.I want to look at what my exit strategy is for each building.I want to know why he is offering seller financing and of course if it's a fair price, has title reports and is done through escrow.I don't need a real estate agent, but I would have inspections done to look for something I night miss.I want to know if buying the lot and selling off a portion makes sense.
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3 July 2024 | 3 replies
I offered them a lease, few hours later after some technology hiccups, she forwarded an email to me with that same email address she used for her landlord reference.I immediately told them this is fraud and cancelled their lease.
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2 July 2024 | 9 replies
However, the financials seem challenging, and I’m seeking advice to make this viable without significant monetary loss.As a side note, I’m quite the handyman—think ‘handyman on steroids’—so I’m open to properties that require some elbow grease.Any strategies or insights from the community would be greatly appreciated!
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5 July 2024 | 14 replies
@Jonathan GreeneI agree - I like to offer an alternative option which can be negative and I get plenty of private messages of me being mean, out for people etc.As an example, I am Sorry, but my opinion is if you get 100% financing I think it is ultra high risk especially for someone new to real estate.