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9 January 2025 | 5 replies
I believe that you don't get returns (failed to deliver) with bulk mailers so you don't know which addresses are bad.That's the simple stuff.My advice is to do various mailings that you or some prepares locally, that go out immediately, using 1st class postage.
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18 January 2025 | 36 replies
Being a brand new unit you have rehabbed you might have to get her out rather than potentially ruin the whole unit by an act of her negligence.
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21 January 2025 | 10 replies
The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.
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20 January 2025 | 14 replies
The limit on scaling is your deal flow (mine never was that good) and time it takes to perform the value add (I got fairly quick for example, my last rehab did all new plumbing, electrical, and flooring.
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15 January 2025 | 9 replies
I'll rehab and brrrr if it makes sense but I'll either stabilize my real estate company a bit or move on something if a killer deal crosses my desk. always looking for small multi's on clevelands east side.
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18 January 2025 | 8 replies
I tried to use an app called melio to pay some of my contractors with a credit card and it cost me more headache than planning for my rehab project.
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15 January 2025 | 1 reply
Are you looking to do a cash out refi after the rehab is done?
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15 January 2025 | 8 replies
Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.
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13 January 2025 | 5 replies
If you are going to finance your rehab then use a LLC to purchase and a rehab lender for financing.