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24 January 2025 | 0 replies
It’s essential to screen tenants carefully to minimize vacancies and ensure reliable rent payments.4.
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11 February 2025 | 14 replies
During construction you'd have minimal payments, either IO or accrued.
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8 February 2025 | 21 replies
Right now, you have to be able to source off market properties or be willing to force cash flow with large down payments.
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30 January 2025 | 7 replies
Use some for a down payment on your next home.
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18 January 2025 | 8 replies
I use credit cards, write checks, and pay in cash.Each situation can dictate the payment type.
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27 January 2025 | 1 reply
Generally speaking, with SFR or small multis, I just rely on the lease/rent roll (and some form of proof of payment; i.e. bank statements, deposit receipts, tax returns, etc.).
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14 January 2025 | 7 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
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5 February 2025 | 16 replies
2) Are you pre-approved and have the down payment in your bank account?
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23 January 2025 | 45 replies
But let’s go a later deeper - my down payment would come out of a well performing stock portfolio.
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29 January 2025 | 8 replies
If there are no other red flags on the tenancy (i.e payment issues, lease defaults) I would still renew tenants (even if they are a little corky!)