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24 February 2024 | 6 replies
Understand budgeting, saving, and financing options relevant to real estate investments. 6.
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24 February 2024 | 28 replies
It does help to understand Airbnb and why they do what they do.
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23 February 2024 | 26 replies
You either have it or you don't, if you borrow it you need to disclose to the bank where it came from I understand the bank can't take that risk.
23 February 2024 | 8 replies
Consulting with a real estate investment advisor or a financial planner who understands the BRRRR method and your local market conditions can also provide personalized insights and help you make an informed decision.
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23 February 2024 | 4 replies
My understanding is I need to store it for 15 days, but that I could charge a reasonable fee if they choose to pick it up.
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23 February 2024 | 24 replies
These assets were bought in 2021 and 2022 and you did not need to have a crystal ball to understand interest rates would be rising.
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23 February 2024 | 14 replies
I'll first introduce myself a bit to help you guys better understand my situation.
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23 February 2024 | 6 replies
Also, it goes without saying that you should consult an attorney; Okay briefly reading over your lease agreement, it's a good agreement but it is very loosely written and does not provide for many remedies prior to eviction so... that is something you should look to improve on moving forward, there should be an escalation of force in as $XX fee until rectafied and THEN otherwise eviction, also you should number your lease clauses.Regarding the current situation first and formost, I understand you live in the property as well but you should certainly take on a 'HANDS OFF' approach in regards to internal disputes amongst Tenants; you are after all a landlord, not the ethics police nor the real police.... if other Tenants have issues such as those they should inform you and then they should contact the police... if it's not police worthy than it is more than likely just internal bickering.
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23 February 2024 | 3 replies
I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.
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23 February 2024 | 9 replies
I'll have to speak with someone in my market who understands it more clearly than myself.