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13 October 2021 | 21 replies
@Steven Harris that is a hard sell but with $30K in savings as collateral you may be able to go to a private lender; however, you are going to have to add a member to your LLC or Corp with a job ; especially since you are new and can not produce a schedule of real estate owned.Most private lenders that I know or have worked with say that the asset is the main pull as far as credit during analyzing the deal; therefor, you have to have a strong deal that makes you money and able to communicate how you are going effectively monetize the project, in the form of an executive summary.I remember at one time some lenders were doing 80/100, 80%LTV and 100% rehab, I do not know if they are still doing that, I will have to reach out to some of them to see their parameters these days.
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22 October 2021 | 4 replies
But yes, definitely best to list with your broker so as not to piss them off, especially if you plan on doing this regularly.
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9 October 2021 | 7 replies
I use a regular breaker and then wire a GFCI outlet under the sink and add a cord to the dishwasher.
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17 October 2021 | 25 replies
The cities don't want students filling up regular family neighborhoods so they make it unprofitable to try.
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9 October 2021 | 1 reply
It may help if you can go to plant nurseries, or talk to contractors/vendors who regularly work with similar situations.
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10 October 2021 | 3 replies
We try to stay away from the coins for the following reasons:Less convenient for our residentsProne to theftIf the coin hopper is not cleared regularly it can jam and make machine unableTend to be older machines and more maintenanceToday, my first preference would be app based, followed by a magnetic card which can be reloaded via a machine in the office.
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9 October 2021 | 2 replies
If SFR 1-4 units are based on comps and multis are based on the income they produce, when the market corrects, do the multifamily properties take a hit in value like SFRs?
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9 October 2021 | 0 replies
To my understanding, after I have tax reports on the properties, I will be able to offset DTI with 75% of the income produced from each respective property.
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10 October 2021 | 9 replies
We have made a separate entrance to the basement, with fire alarms/parking, etc in place (although first time heard about egress window), and we don't have shared space with the basement (so tenants have their own kitchens and bathrooms, except we share the laundry), so based on Roy's comment, this is still within RTA I guess, so it's more in favor to the tenants (based on Denis' and Frederick's comment).With that being said, we are very interested to know the pro&cons between renting out a basement from our primary residence vs. just regular rental units.
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14 October 2021 | 11 replies
But, if you have a significantly high salary that can regularly support paying cash for properties, that may not be the worst idea.