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24 February 2025 | 30 replies
@Joel Oh- if you are using a loan to acquire the property - the lender requires insurance ....if you own the property free and clear - your choice but I would still recommend insurance
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2 February 2025 | 10 replies
Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action.
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4 February 2025 | 0 replies
Platforms like Procore, JobTread, Buildertrend, and FlipperForce have caught my eye, but I want to make sure I’m considering the best fit for my needs.Here’s what I’m looking for in a solution:Cost Estimation: A tool that accurately calculates material and labor costs.Project Oversight: Features to manage tasks, schedules, and budgets efficiently from start to finish.Vendor Integration: Real-time updates on pricing and inventory from suppliers like Home Depot or other suppliers.Material Suggestions: Automation or recommendations based on the rehab’s scope and specifications.Labor Planning: Tools to predict labor hours and staffing requirements for each phase of the project.For those of you who’ve used any of these platforms (or others), I’d love to hear your thoughts:Which software have you found most effective and why?
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6 February 2025 | 29 replies
I recommend getting a few quotes and choosing one that is right for your financing strategy. if you are trying to get fix and flip money there is a wide disparity in rates and charges.
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23 February 2025 | 10 replies
Shame on those here recommending it.Similarly, don’t even consider borrowing against your personal residence—even if you could qualify.
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5 February 2025 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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8 February 2025 | 13 replies
Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.
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10 February 2025 | 9 replies
I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.
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4 February 2025 | 1 reply
Really reaching out today to see if anyone has a good recommended software they use for material list organization & construction management softwares.
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22 February 2025 | 11 replies
Because this is your first rental property, I would recommend finding an amazing PM company and paying them what they are worth.