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19 February 2024 | 14 replies
Also if you don't need your capital to immediately go to work for you, then another good option and/or backup plan for you to look into is a QOZ fund.In terms of finding a quality NNN, how much of the $1.3m is equity vs debt?
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20 February 2024 | 3 replies
Renovated each unit as they opened up which created additional value through increased rents.
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20 February 2024 | 4 replies
If you add additional bedrooms, I would also consider the bedroom-to-bathroom ratio so you don't have too many roommates needing to share a bathroom.
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20 February 2024 | 11 replies
These are professionals with additional training and a stricter code of ethics.
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20 February 2024 | 9 replies
You're a great addition to the real estate community.
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20 February 2024 | 3 replies
Happy to share any additional insight!
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20 February 2024 | 1 reply
❌ Previous Rent: $1,100✅ Post Reno Rent: $2,000 (plus utilities)Original Underwriting: $1,900$900 monthly rent increase$10,800 additional income per year (excluding utilities)We spent $35,000 for a premium level renovation.= 30.8% return on investment (ROI)We target an ROI between 25% - 35%.
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20 February 2024 | 15 replies
In addition, 5% to 8% each for maintenance and cap ex would be way too low in virtually every market but possibly not in high rent San Francisco.
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21 February 2024 | 4 replies
In addition, how much time do I have to find an escrow company before closing?
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22 February 2024 | 21 replies
If you don't have the "dough" you don't have the "go".Based on what you are saying you will need 20% down payment for a rental + closing costs + operating reserves (in cash).Most people will not have this--some will do what they need to do to get it--some will not, some can not.A good first step might be to save up as much as you can for a year in a special savings account--by living frugally for 12 months.Then explore down payment assistance programs in your area for first time home buyers of a primary residence--if you qualify (and the home is in a good area for your 'Family" vs Gunshot Alley, then buy a home for yourself and your family.Getting on the track of being a homeowner will give you some additional strength, after a few years of ownership, re-asses your situation.Or work 2 jobs and save the 20% down, closing costs and operating capital you will need, but if you do that and your wife divorces you for it, then you will be in a worse situation than you are now.In the mean time, [1] read Rich Dad Poor Dad, and [2] have fun with your family doing things together (while you have the time), rent a boat for an afternoon, go on a pic-nick, hike in the woods, etc...