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14 August 2024 | 1 reply
Hello Tatyana,I think that there is a lost art of Seller financing currently, I think that you can make the argument that seller financing is safer than buying a CD in a bank.
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12 August 2024 | 8 replies
But I have been looking into splitting the duplex into two condos (yes I know it is a lot of work) and I could probably get 325-350k for each, netting me 650-700k.Number:* Mortgage interest 2.5%* Mortgage principle 240k* PITI $2100/month* Rent 2200/month (current tenant on a two year lease)* Potential rent on my side $2400/month * 100k HELOC at 11% (fixed) (not currently being used)* est additional cost to split the dueplex 75-100k (conservative, probably less) *new siding 30k (just put on a new roof this year) *legal 10-15k *fire proofing 15k * 15-40k for stuff I am not aware of or underestimated on* some of the appreciation is external from the home *big grocery store put in 3min away * newly paved road in front of my house *a building that was falling down across the street has been torn down * Still a vacant lot with the foundation exposed and fencing around it (so more local improvements are on the way)Part of me wants to take the money and run but man I love that 2.5% interest rate and the $2000/month cash flow (including taxes and capx)I have thought about 1031 exchanging into more rentals, but I would like to pivot into storage units.
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16 August 2024 | 17 replies
However, always have a flexible approach – sometimes a great property comes up that’s worth pursuing even if your financing isn't fully in place yet.LendersFor multi-family housing owned by out-of-state investors, I recommend looking into regional banks or credit unions in the Midwest market you’re targeting, as they often have more tailored loan products.
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12 August 2024 | 7 replies
We have our reservationists respond with ChatGPT with all 4/5 star and anything 3 star or less gets sent to management.
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13 August 2024 | 3 replies
Be more discreet and search the web first.The goal is to help you get better answers and less pitches.
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13 August 2024 | 4 replies
Using a second mortgage or a Home Equity Line of Credit (HELOC) on your single-family home can provide the needed funds for the down payment while preserving your liquid assets.
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15 August 2024 | 4 replies
We require anyone over the age of 18 to apply to live in the property if they will live there more than 14 consecutive days, that is written in our lease.
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14 August 2024 | 6 replies
They’d like to move no later than October.
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11 August 2024 | 12 replies
Hello, I have rented out a Single family home on Jan 1st 2024, tenant was brought in by an agent and setup lease as well.The tenant profile was not so great, but it was empty for more than 3 months and I reluctantly rented it out.Since then, tenant was paying rent, but on 5th of every month after couple of followups.Last month they pushed it to 15th asking they were hit by sickness, family emergencies and BS, I said its only one time pass and they paid it on 15th.Now August 1st is upcoming, they are requesting for a call setup to chat, not sure whats that abt, but I presume to buy time.BF and GF signed the lease, it appears things not working out well between them, only lady is answering emails/chats/calls.
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15 August 2024 | 18 replies
I understand the arrangement is certainly different, but from a practical standpoint it isn't much different than a licensed GC staffing a team of laborers, who are actually doing all the work, and the GC checking in on quality of work.