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27 November 2024 | 4 replies
The 1031 will let you get there using the tax dollars for your benefit rather than paying them to the government - a big bump to your net return.
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27 November 2024 | 3 replies
just bumping for visibility and curiosity
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29 November 2024 | 12 replies
However, you’ll need to handle all the paperwork, figure out which forms to file, and stay on top of compliance requirements like annual reports.
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30 November 2024 | 2 replies
Also, the ability to export reports for partners or lenders would be a plus.Essential Data/Analytics: Reliable rent estimates, cap rates, cash-on-cash return, operating expenses (especially maintenance and CapEx), and local market trends like population growth or job market health are key for decision-making
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2 December 2024 | 10 replies
Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.
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29 November 2024 | 2 replies
Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
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3 December 2024 | 51 replies
@James Wise, a long-term BiggerPockets user, was sued for $7.2M by Clayton Morris for reporting on Morris on his YouTube channel.
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30 November 2024 | 3 replies
Next we utilize mysmartmove.com for background/credit report.
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28 November 2024 | 8 replies
https://www.bizbuysell.com/ has reports and educational articles for understanding the various metrics for their listings.
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29 November 2024 | 18 replies
Quote from @Eli Ling: The apartment below mine reported a ceiling leak.