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14 March 2024 | 50 replies
Nikki I'm new to STR investing but not to spreadsheets and I must say yours is VERY well done and far above the others I've collected in the last few weeks.
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11 March 2024 | 24 replies
If you contribute the property to the LLC, then there is no gain / loss on the transaction.
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11 March 2024 | 3 replies
I'm still learning about what's realistic and possible, so I don't have this number yet- minimize taxes- protect liability exposure- if SDIRA is the right answer, the fees for custodians looked high - but moving the money will means saving my capital against market loss in my current Roth at the next downturn, so maybe the fees pay for the added security and additional benefits of REI.It's helpful to write this out.
12 March 2024 | 1 reply
Lastly, it goes without saying that I'm not an attorney.
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12 March 2024 | 19 replies
Lastly, no sign can be within I think 1000 feet of another sign or I think 500 feet of a residence.
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12 March 2024 | 17 replies
If it can be demonstrated that PMC failed its fiduciary duties in protecting the Owner's interest from the get go and at every turn causing great loss (eviction, damage) through no lease enforcement and negligence in screening, then forced Owner to have to file eviction and then seek to collect judgment via garnishment, then what recourse does the Owner have if the info that will allow the Owner to sue the employers are withheld from them by the PM?
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12 March 2024 | 7 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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11 March 2024 | 2 replies
I've been quoted by a few however some declined coverage for being a log cabin semi close to the lake and a 2nd home or did not cover loss-of-rent.anything works!
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13 March 2024 | 8 replies
In most cases, this is enough information to figure out if you have a deal that is going to benefit the client and make sense for them (this is assuming you can get an estimated value of the home you'll be refinancing through other means, otherwise, you might also ask them for their estimate as to what their home is worth).If you're past this point of figuring out whether it's a deal that makes sense for them and you haven't run automated underwriting to determine what documentation is being asked for, here's a pretty standard list:- 2023/2022 W2s (any/all jobs worked during these years, regardless of how long they were on the job)- Most recent mortgage statement for the loan(s) you'll be paying off- Copy of their homeowner's insurance binder or contact information for their homeowner's insurance agent so that you can request this on their behalf- Most recent pay stubs covering 30 days (typically this is the last two pay stubs)- If the property is in a homeowner's association, you'll want a recent HOA statement showing how much the borrower pays for their HOA dues- Copy of the borrower's driver's license or ID card - front and back- If your deal requires an appraisal, you may want to get payment information from the client now.
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11 March 2024 | 1 reply
If you tie up money in stocks within your LLC and then a deal pops up, you might have to choose whether to lose the deal or sell your stocks at a LOSS.