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21 July 2019 | 1 reply
My uncle was a real estate agent for 15 years and he become an investor and held several rentals and did a few flips(I did the work on a couple of them personally), then he graduated to owning a 30+ unit apartment building.
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22 July 2019 | 7 replies
Wood framing that is oozing sap has been subjected to temperatures over 200 degrees F and strength properties and metal connections have been weakened.
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21 July 2019 | 7 replies
The costs associated with it will yield you about half of what you were looking for.Here is the numbers[rough estimates only] if you buy at $117k and put $20k into it and sell it for $190kPurchase $117,000.00Down $10,000-20,000Points and Closing costs 2-3% for escrow and loan lets assume $4000Mortgage - PITI - $511+100+75[insurance] = $686 x 12 months =$8232 [total carrying costs, less if you sell sooner or live there- But if you sell within 1 year you get killed on short term gains 2x times as long term held for a year or more]Rehab $20,000Total investment - $20k+4k+8.2k =$32.2kSale $190,000Sales and Closing Costs - Commission 5% =$9500 + Escrow and title and what not =$5700 = $15,200 Total Closing Costs$190,000 - $15,200[closing costs]= $174,800 - $32,200[rehab] = $142,600- $117,000[purchase]= $25,600 Gross - Taxes 20-40% = $20,480 - $15,360 NetIf you are only going to net $15k you might as well do a refi at one year and keep the asset and pull out more than 2x time that amount.
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23 July 2019 | 6 replies
However, the funds are held by the IRA custodian so they will be involved as well.
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21 October 2019 | 24 replies
She can move out, but if anything happens with the rental payments, she'll still be held legally responsible.
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22 July 2019 | 8 replies
Amortized interest is affordable but very expensive if held for the full amortization period.
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24 August 2019 | 14 replies
The funds are held in an escrow account through this entire process.
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22 July 2019 | 29 replies
She "snuck" in that contract with the documentation of the offer, she held on to my offer and the lingo in the new offer says i have like a week or so to get the inspection done which is difficult because the ones i spoke are busy, even the ones she sent me.
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23 July 2019 | 3 replies
Loosen the 4 screws and remove the 4-prong cord.Usually, you will have three screws in a row on a plastic terminal block, and a fourth screw below or above that, that goes directly into the sheet metal.When the dryer was shipped, there was a metal strap, about 1/4" wide by a couple of inches long, from the screw in the sheet metal, to the middle screw on the plastic terminal block.
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31 July 2019 | 9 replies
What is the average number of units held by investors of this asset class?