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22 May 2024 | 11 replies
are you already in a strong financial position - emergency fund, savings, maybe a retirement account?
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26 May 2024 | 40 replies
It does feel like its worth it to check these items off the list now and not have them as line items to save for replacement costs.
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23 May 2024 | 3 replies
I’m in the process of switching several of my buildings over to individually metered propane heaters so the tenants will become responsible for their own heat costs and more accountable in their waste of resources.
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24 May 2024 | 5 replies
It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..
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24 May 2024 | 1 reply
Check out this BiggerPockets article: https://www.biggerpockets.com/blog/what-documents-do-you-nee...
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24 May 2024 | 15 replies
Foundation and roof work are very expensive.It sounds like a good house hack based on pricing and rents, but make sure you check crime and median income to justify rents.Exciting!
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25 May 2024 | 4 replies
Be sure to check local regulations on door-to-door marketing.By focusing on these methods and providing incentives for effective delivery, you can effectively reach motivated home sellers directly and increase your chances of finding great deals.
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24 May 2024 | 6 replies
This house currently has no renter though they are actively looking to put one in the home.House 5. rents for $725/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 6. rents for $725/m the loan will cost me $14,000 as a down payment and $6,000 closing costs, and should cash flow approx $250/m after mortgage payment are made.To be able to make this down payment I have the option to:HELOC my current home which cost me about $850/m in repayments OR I can find a hard money lender who would be interested in working with me, I am currently putting together a hard money lender proposal to show a couple family members that would basically look like this: No repayment in the first 12 months, all income going into an account to allow for repairs and emergencies, after that taking the cash flow and splitting it 75/25 to the lender paying it off in approximately 13 years, sooner if we can make extra payments on it and giving the lender an 8% return on his money(about .5% less than what I was quoted for my HELOC).ORI can potentially do a deal with my brother who is also looking to get into real estate and we split the properties 3 a piece.These properties are right outside of a military base in a low income city but have done well for the family currently owning them with consistent long term renters in them.I am looking for any advice as to whether or not this is a deal worth pursuing.
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25 May 2024 | 15 replies
Another part of the Open Spaces experience that we didn't like is, to your point, once we were about 60 days into the program, a member of the Open Spaces team reached out to us to "check in."
24 May 2024 | 1 reply
You get a referral agreement signed for 25% and when they close for the client, you will get your check.