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17 December 2021 | 63 replies
Yes, your Solo 401k can own RE.My understanding is that you can only contribute earned non-passive income as the employee but you as the employer can contribute a share of the company profits.Once the funds are in the Solo401k you can own real estate in the name of Solo401k but you can not do any work yourself e.g. property management or repairs
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7 December 2021 | 23 replies
Hi Whitney,Talk to an attorney local to the property.You might be able to get a financial judgement (trebled).Step one might be to get three bids on (comparable) replacement systems.American Standard, Bryant, Carrier, Lennox and Trane are names of some furance and A/C (HVAC) manufactures.And realize a new furnace A/C (HVAC) might force you to change the thermostats too (or not).Trying to figure out costs on this yourself (with any resprayed insulation up there) might be pretty tough, (plus you have to buy whatever new refrigerant is required in your area--and the new stuff can be very very expensive).You might be able to pick the brand you like best, or the one fastest installed vs the cheapest...ask an attorney.Also, in a financial judgement, you have to collect...lien their wages or bank accounts (to the extent you are allowed to do so by THEIR Locality).
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8 December 2021 | 30 replies
You need to do this within 30 days of moveout generally.Likely you can win in court or get default judgement, but collecting is always the tough thing.
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9 December 2021 | 3 replies
We have our STR property thats going to be going live on ABNB/VRBO within the next week or so in Scottsdale, AZ and are having a tough time finding a reputable cleaning team that is very familiar with doing short term rental cleans/flips.We really look for an autonomous company that does the cleaning based on our bookings calendar so we dont always have to be constantly reaching out to them about when to clean/when the next guests arive, etc.If any investors or Scottsdale locals out there have some recommendations, anything would help!
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7 December 2021 | 3 replies
What's tough is that the guy who will do the fence work won't be able to get to it until April and didn't want to give me a quote now because of the current financial climate, noting that prices now will most likely not be the same prices in April.
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7 December 2021 | 4 replies
We both come from poverty families, so it's really tough coming from nothing.
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8 December 2021 | 4 replies
In my opinion you should invest for cashflow first to ensure that you can service the debt and properly operate the property even through “tough times”.
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12 December 2021 | 50 replies
They know you can put in a gas oven, they know you're rough and tough enough to refinish a floor, they've heard you swearing at the plumbing, and they understand you can kick their butts out if you have to.
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20 October 2021 | 10 replies
That being said, you do need to understand that if you buy a small park (less than 50 units), you will have a tough time exiting upon stabilization, unless you sell it as a portfolio with other parks in the area.
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15 October 2021 | 1 reply
One thing with land that is tough for us, is that it can be tough to finance.