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10 June 2020 | 79 replies
You're really just assuming someone's mortgage and instead of collecting rent, you're collecting a mortgage payment for the life of the mortgage (15-30 years, unless they cash out early).Now it would depend on how much capital or access to capital you have to outlay since notes are capital intensive but in essence it's really just this: instead of using your out of pocket capital to pay down your debt, you buy debt like cashflowing mortgage note and you utilize that arbitrage to make your credit card/loan payments.
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9 June 2020 | 2 replies
@Pete PanciFor house hacking a duplex or triplex is the best option. you live in one unit and collect rent for the other 1-2 units.
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9 June 2020 | 6 replies
This is not any kind of rule-of-thumb, just our collected experience.
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7 June 2020 | 7 replies
This would also allow you to collect the personal data on these inherited tenants in case of future legal action.
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8 June 2020 | 8 replies
I would put all on one lease, but would like to collect rent together and not from three different people.How do I decide who to make the primary person responsible for paying the rent?
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10 June 2020 | 7 replies
We firstly changed to have a management system (SiteLink) and after a year of collecting checks & chasing people about late paying we switched to everybody having a credit card and we run that card on the 1st of every month.
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7 June 2020 | 11 replies
Don't rehab, hold on to it a little longer to collect the cash flow, then sell when buyers and lending are more plentiful3.
7 June 2020 | 0 replies
I dont currently use a payment app to collect rents, but I am trying to learn more about them.
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9 June 2020 | 7 replies
Once all rents are collected and the mortgage and any other expenses are paid, then the rest is cash-flow that can be split after a sufficient amount of reserves is built up.
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17 June 2020 | 36 replies
Most landlords are collecting all their rents and flippers are selling houses in record time.