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13 May 2024 | 10 replies
I still see $250K properties that have $3000 in taxes compared to other $250K properties that have $6000 in taxes.
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13 May 2024 | 1 reply
There is not a way to get cash out on creative finance, unless you involve an unwary private lender at great risk to both lenders.
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14 May 2024 | 2 replies
Some lenders have clauses that could trigger the due-on-sale clause if they discover the ownership transfer.Seller Financing Terms: The seller financing terms seem favorable with 0% interest for the first 2 years.
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14 May 2024 | 21 replies
Most hard money lenders will offer these products, but not all are created equal.
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14 May 2024 | 4 replies
This includes working with a knowledgeable agent familiar with your investment area, finding trustworthy local contractors for your projects, securing responsive insurance agents, partnering with investor-friendly title companies, and connecting with lenders offering suitable financing for your strategy.With your goals set and team in place, you should feel more confident in your approach.
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15 May 2024 | 15 replies
Compare your rental to others in the area and that will determine the appropriate rental rate.
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13 May 2024 | 7 replies
Lenders are not giving HELOC's over 80% LTV.
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13 May 2024 | 2 replies
2) Lenders - where did you find success in your early days building a network and pipeline of actionable investment opportunities?
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13 May 2024 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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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?