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28 November 2024 | 9 replies
With regard to your "DST" and as with many highly structured tax vehicles that have a potential "self dealing" quality to them, there are a number of potential potholes you can easily step in along the way (e.g., constructive receipt doctrine, effective control over nominal 3rd party relationships, lack of genuine risk bearing and compliance with transactional terms, etc.).
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26 November 2024 | 2 replies
I learned that it's better to go for quality the first time if you want it to last.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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23 November 2024 | 8 replies
Outstanding education, local and national meetings and lots of networking.
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26 November 2024 | 15 replies
Buy from a quality builder in a neighborhood which is going to appreciate. Â
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27 November 2024 | 3 replies
You should focus on the quality of the agent, not the amount they charge.
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26 November 2024 | 2 replies
Another key aspect of creating generational wealth is investing in high-quality properties.
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26 November 2024 | 4 replies
A few things to keep in mind:Section 8 requires the property to pass an inspection based on HUD’s Housing Quality Standards (basically making sure it’s safe and well-maintained).The rent you charge has to align with Fair Market Rents (FMRs) in your area, so it’s good to check what similar properties are renting for.You’ll still be responsible for maintaining the property, but the upside is that a chunk of the rent is guaranteed by the government, which can provide steady income.Check with the local housing authority about any specifics for your area—every jurisdiction does things a little differently.This could be a great niche if you can find a good deal on the land and make sure your expenses (like maintenance, insurance, and occasional vacancies) are covered by the rental income.
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25 November 2024 | 5 replies
@Renee LeFevreTo rent out your basement, follow these steps: check local regulations, prepare the basement with separate entrance, screen potential tenants, draft a lease agreement, set the right rent price, consider tax implications, update homeowner's insurance, and build a positive tenant relationship to attract quality renters.Good Luck!
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26 November 2024 | 5 replies
I know you can’t predict this but I try to get quality purchases which helps.
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1 December 2024 | 25 replies
@Loan NguyenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?