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26 September 2018 | 9 replies
The key here is not necessarily the numbers more about the tactic and if it’s LEGAL and POSSIBLE To DO it like this or if any one has tried anything similar to this: Property purchase price: 80,000Estimated Rehab cost : 45,000Property ARV: 175,000Hard money Loan used for : DOWN PAYMENT & FIXED COST.Down Payment: 16,000FIXED COST : 18,000 35,000 ( added an extra grand ) HML 35,000 @ 15% interest with 6 points Total: 46,250LOC used for REHAB : 45,000 @ 3 % interest.Total 47,000HML + LOC = 93,250Remaining Balance On House : 64,000 @jasonDiClementeHML + LOC + RBOH= 157,250House sells for 175,000 SP - HML-LOC-RBOH = 17,750 profit - tax about 11,000 grand ... not really a big number but like I said it’s all hypothetical.
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25 September 2018 | 4 replies
@Blaine Alger It's legal.
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27 September 2018 | 9 replies
Don’t follow people online until you get some footing.
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12 October 2018 | 11 replies
and knee deep in the mindset change that comes from the gateway drug that are the Kiyosaki books and Think and Grow Rich, and stuff online like BP.
26 September 2018 | 10 replies
You can look it up online.
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26 September 2018 | 2 replies
You can also check their reviews online at Google, Facebook, or Yelp.
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15 April 2019 | 1 reply
This type of legal work is expensive.
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25 September 2018 | 1 reply
You'll find a wealth of ideas.Attend a local REIA, post it on the BP marketplace, raise money from friends and family, take out a HELOC on your primary, find a local hard money lender, crowd fund it online...the list goes on...
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25 September 2018 | 1 reply
Legally, I can only increase rents by 1.8% under new ownership unless there is a capital expenditure or significant increase in property taxes that justify it.
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3 November 2018 | 12 replies
As a legal analogy, in jury selection, many folks believe what they see on legal TV shows is an accurate representation to our criminal justice system.