Your other option is to pay cash instead.

Approaching the end of my first BRRRR (rehab to be done in 2 weeks) and I'd like to reward my contractor with a cash bonus; I'm wondering what an appropriate amount of money is to give him.

It is effective Aug. 1, 2024.This ordinance is referred to as the Source of Income Discrimination Ban Ordinance" - which is identified in File #231019 and amends sections of Chapter 38 (Civil Rights) and Chapter 34 (Health and Sanitation) in the Missouri Revised Statutes for the purpose of classifying source of income as a protected trait in regard to housing discrimination.Here are some key takeaways from the attached ordinance:This ordinance bans discrimination against tenants based solely on:Source of income from an occupation, including gig work or paying rent in cash Use of public programs like Section 8 Housing Choice Vouchers, disability checks, or social security Poor credit score Prior evictions and alleged damages older than 12 months (less than 12 months can be a basis for denial) Prior convictions or arrests (sexual and violent crimes are excepted, a landlord can still deny based on these convictions)The ordinance also requires the city to proactively scan for rental ads using discriminatory language like "no Section 8" or "no past evictions".Landlords who are found to be in violation of the ordinance with respect to source of income can be fined up to $1,000 per incident.

Cost Savings:By acting as your own general contractor, you can potentially save money by avoiding the markup that professional GCs add to subcontractor fees and materials costs.2.

.- Monthly cash flow from day one- More properties that are fully separated metered -- gas, electric, hot water all metered for individual units- Significant increase in property management -- evictions, late rent not because somebody simply forgot to press "send," potential domestic issues, issues between tenants, etc.

That will vary depending upon your experience level, the quality of the property, the cash flow of the property, and the lender's appetite for that type of loan.

Also did you grow only through cash flow or did you take investor capital to reach where you are today? 

Folks actually saved a lot of that wealth in their bank account.

Even with conventional loans, unless you've been self-employed less than two years or don't report your income, it's the same as someone with W-2 employment We lenders just cash-flow you differently.

Purchase price: $650,000 Cash invested: $65,000 STR in Black Hawk CO