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2 July 2013 | 13 replies
If you can get past the 4 house rule.
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2 July 2013 | 9 replies
You should research the 50% rule.
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3 July 2013 | 3 replies
No idea why.Review the rules and try again.....but if you're trying to sell for really significantly more you'll need to add value, otherwise it's probably predatory dealing..... ?
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3 July 2013 | 5 replies
You could also do a second on another property, or several others.I'd suggest too that you start looking at a blanket mortgage on several properties (with a release fee on each) and begin consolidating the debt to free you up for financing.Creative financing is utilizing the assets you have to leverage a deal within the boundaries of conventional requirements, the rules and regs, not getting wild with schemes. :)
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5 July 2013 | 24 replies
Or better yet, what is the '2% Rule and the '50% Rule'?
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4 July 2013 | 5 replies
I'd use the 50% rule for this.
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8 July 2013 | 20 replies
I really am not desiring to manage my properties myself, it's not in my long term game plan.The town is small and with city codes I don't know that they would accept a box as an address as well, and I tend to try to play by the rules and codes rather than break or bend them, but that is just me.
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4 July 2013 | 19 replies
So if the OP's goal is 10K/month, and we use the 50% rule, and go for properties that rent for 1200/month, that's 17 properties. - Set about acquiring properties as fast as is prudently possible, with the best financing rates you can get, that cash flow with the financing in place.
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4 July 2013 | 3 replies
Are you familiar with the 50% rule?
8 March 2015 | 14 replies
You'd want it to be 1k/unit to hit the 2% rule, but I'm guessing it's much closer to half that.