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10 January 2025 | 1 reply
This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.
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14 January 2025 | 18 replies
Quote from @Basit Siddiqi: I personally would not buy real estate with a retirement account.There are just too many headaches that are not worth the potential increased return.Some headaches when it comes to investing in real estate with a retirement account1) LTV values are less and harder to find lenders.2) Potential to sell or partially distibute the property if you have to do a RMD(Required Minimum Distribution)3) If you run out of cash and have to make a major repair, you may be out of luck and have to sell.4) Having to potentially worry about UBTI(Unrelated Business Taxable Income)I would personally invest in stocks/bonds/notes with a retirement account.I buy deals with cash and use a ROTH SDIRA so there are no RMD's.I buy at huge discounts to retail.
13 January 2025 | 41 replies
A few months go by and unbeknownst to me the escrow account had now drawn negative which triggers the lender to no longer apply what’s considered a “partial” payment to them, given that I’m now paying less that what’s due given the escrow increase required but not relayed to me even though I expected it at some point.Last month I’m on Zillow looking at the value of my properties.
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27 December 2024 | 7 replies
That will show what proposed tax increase you will see.
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12 January 2025 | 2 replies
My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.
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14 January 2025 | 19 replies
While the vetting of residents is greater with FF over an Airbnb or similar platform, I think Airbnb overcharges for the increased convenience.
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12 January 2025 | 5 replies
Just wanted to introduce myself.My name is Ariel, I am 32 years old (this Thursday), and I am making my first steps as a real estate investor.As I live abroad, most if not all of my work would be remote, and right now I am focusing on Jacksonville, FL.My main goal for this year is to fix and flip at least 2 SF's properties, and for the next few years to increase this number, maybe do some MF, and possibly to also BRRR when I raise enough of my own capital.At the moment, my biggest challenge is the fact that I am remote, so I could use some help from a local realtor or management company.It's so amazing to know this community exists, and I am thrilled to actually take part in it
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16 January 2025 | 1 reply
The biggest challenge is a lack of quality homes and a rapidly increasing demand for vacation, second and primary homes.
14 January 2025 | 7 replies
If you have access to some money you can increase your equity in one jump.
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7 February 2025 | 13 replies
I felt confident that this guy was dependable and wanted to pour gas on the fire.I increased the number of hours Marilyn was working and ordered another batch of direct mail, all at my sole cost.