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10 February 2025 | 5 replies
Since your property has high resale potential, some lenders may be willing to work with you.Cash-Out Refinance – If you’re open to refinancing, you could take out a new mortgage for a portion of the home’s value (say, 60-70% of the $500K), and use the cash difference for renovations.Personal Loan – If you have good credit, you might qualify for a personal loan for part of the rehab costs, though interest rates are typically higher than secured loans.Partner with an Investor – Given the potential profit, you may be able to find a real estate investor or contractor willing to finance the rehab in exchange for a share of the profits upon sale.Your best option depends on your financial standing, timeline, and risk tolerance.
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10 February 2025 | 21 replies
I would not borrow from ANY lender I learned of over the internet unless I knwe personally people who had used them.
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24 January 2025 | 9 replies
I have two phones, one for business and one for personal.
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30 January 2025 | 13 replies
Personally when buying rentals I tend to buy in neighborhoods that I feel like I wouldn't personally mind living in and when I look for tenants I try to look for people that not only pass my screening but also I personally don't dislike.
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21 February 2025 | 22 replies
It's always nice to get a personal referral.
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15 February 2025 | 15 replies
I think of it like an employee or personal assistant.
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24 January 2025 | 6 replies
It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.
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3 February 2025 | 7 replies
She'd probably be able to put you on the line as a co-borrower.I've done this personally and it's been great for me and my situation!
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20 February 2025 | 9 replies
A bookkeeper can also work hand-in-hand with your CPA to ensure everything is recorded correctly, making tax time much smoother.My personal belief is to get referrals for CPA recommendations—word of mouth is often the best way to find someone solid.
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19 February 2025 | 10 replies
Personally I would just get the proper licensing and insurance if I wanted to manage properties for others.