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23 January 2025 | 5 replies
It's not hard to understand the disqualified party rules and prohibited transactions.
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23 January 2025 | 4 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!
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18 January 2025 | 15 replies
I highly recommend you play with that tool to start getting an understanding of what things you can do to positively affect your credit!
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25 January 2025 | 12 replies
@Jonathan Blanco, I'm and investor and a licensed mortgage broker so I've been on both sides of this conversation.I would look for a lender that (1) listens to you and understands your strategy and needs (hint: it's not always money), (2) has experience working with clients executing your strategy and brings more to the table than just cash - be it advice, relationships, deal-team partners, etc., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.
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22 January 2025 | 10 replies
@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.
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31 January 2025 | 8 replies
@Sam Ojo The $900K of equity isn't relevant without understanding the value of the real estate.
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30 January 2025 | 45 replies
Its comical how few people understand how luck in a particular economic cycle plays into their successes.
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23 January 2025 | 1 reply
While I understand you want to buy the house, you are at the mercy of those that your relative sold the property to.
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24 February 2025 | 28 replies
The new PM did initiate the transfer of service and reached out to the tenants, but since the existing PM hasn't confirmed the transfer to them, they're understandably suspicious.
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19 January 2025 | 46 replies
American's generally do not understand the market deferences, financing laws, and housing laws.