Are you keeping these for the long haul?

Now, I'm not saying this is smart by any means, but since the market has shifted to a wholesaler's market then it would be in your best interest to either increase your offer amount so you lock down more deals or significantly increase assignment fee for higher spreads.

Keep in mind BP is a great incubator however there is a lot of Members just starting their journey so you want to make sure your aware of their experience levels.

Market Update February 2024Last year, as I saw the potential for market conditions to change I sent out a couple of market updates to keep our owners informed.

Thank  you so much in advance. can you further describe what you mean by "using as a business" big diffference between having company vehicles there vs. having pallets of shingles in the driveway. what specifically or how specifically are they using it as  abusiness

I keep escrow open with EMD to make sure we can enforce our contract in case the seller stops communication out of nowhere.Yes, I agree with the licensing part.

In Milwaukee, I'd need 2 exits from the attic and 50% of the space has to have at least a 7 foot height on ceilings.Two things you want to check: both requirements are correct, but on top of that the city is getting reluctant permitting 3rd units: 50% more occupants mean 50% more water and sewer and 50% more traffic and parking.The other issue is that the cost of finishing a thrid floor with proper insulation/ventilation will run about $50-60/sf and only makes sense if you can get strong rents. 

What do you mean by the LLC being a disregarded entity for income tax purposes?

And pray they don’t steal everything one the way out. 4) Be aware you probably can never kick them out if they keep paying (at least not without 3-6 months of cash relocation fees.) so be prepared for this to be a rental until they decide to move out, not you decide to stop doing it. 5) PLEASE sell.

I finally received a demand letter from a "nonprofit attorney" representing the tenant, claiming that the tenant was living in uninhabitable conditions—typical for a non-paying tenant, I guess—and now she wants to "renegotiate" the rent and keep living in the same space.She has been filing complaints with various government departments, but all the cases were minor and have been closed.