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22 January 2025 | 5 replies
If so you need to fall into the guidelines (for the investor whos funding it) regarding non arms length transactions.The most common scenarios they typically prohibit are:- Gifts of Equity- Bailouts- Leaseback OptionsAt the end of the day it needs to be a legitimate transaction, with legitimate funds coming into close.
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27 January 2025 | 12 replies
Testing the entire BRRRR process to see if it's the right strategy for me long-term.building equity through rehab and build out will be best achieved with a lower priced cash purchase---typically wholesale. or word of mouth. depends on the region though. lots of ways to hunt for good BRRRR candidates, but hunting on the MLS typically wont get you low enough prices to make sense....My brother-in-law, who owns a landscaping company in Lee’s Summit, works with a lot of local builders and has been a huge help...This sounds like a great resource for finding subs that will do the work for you independently. most subs can do other types of work as well.If you’ve worked with trustworthy contractors or subcontractors in the Jackson County/MO area (especially those familiar with investment properties), I’d love your recommendations.
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19 February 2025 | 57 replies
Typically people who ask this question either a) have TONS of money and no time and can afford to take losses and risks OR 2) are pretty naïve to all the risk of long-distance OOS investing.
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22 January 2025 | 31 replies
Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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26 January 2025 | 30 replies
I suspect most who requested cash for keys had previously received cash for keys.What I do instead is explain:- the housing shortage in my market and that an eviction will forever make it difficult to find a quality rental in this market. - I will ding their credit such that all credit cards and other debt will cost them more.- I will keep their security deposit for funds owed.- I will do my best to garnish future wages until their debt to me is paid in full.This has worked 100% time so far.
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20 January 2025 | 2 replies
If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!
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29 January 2025 | 68 replies
Typically, this results in the loss of hundreds of affordable housing units.
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4 February 2025 | 24 replies
Since new builds require upfront capital, you might not see immediate returns, but lower maintenance costs and higher rents typically make up for it long term.If you're serious about scaling with BTR, make sure you connect with experienced builders, property managers, and lenders who understand the strategy.
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23 January 2025 | 8 replies
You'll typically need to set up your account and get familiar with the process of working with the local housing authority.
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11 February 2025 | 167 replies
In investing that's typically done by exchanging one asset for another rather than using cash as an intermediary (which would require you to time the market perfectly).