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23 March 2024 | 9 replies
- IngaNo one can predict the future but if your goal is to keep it long term you should try to get the lowest rate possible
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24 March 2024 | 10 replies
Keep your common areas clean and neat, possibly have a house cleaner come in twice a month for these areas if your budget allows it, have solid house rules that you enforce regarding at a minimum quiet hours, parking, smoking, pets, and visitors just for starters and be sure to run it like a business and decide if you will have month to month terms, 6 month terms or yearly terms.
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23 March 2024 | 9 replies
OR (possibly in your case) there's just no market for what you're offering where you are offering it. 2.
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21 March 2024 | 16 replies
One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊
23 March 2024 | 7 replies
If you already own it and it was a personal residence that you don't want to sell providing you live somewhere in the area, have an interest and understanding of your local rental laws and aren't in California (the laws) or Florida (the possibility of assessments) then self management is a possibility.
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23 March 2024 | 1 reply
The whole point of setting up my layered corporate structure was for asset protection, so I'd like to use it, if at all possible.
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23 March 2024 | 4 replies
Looking to expand my portfolio or possibilities.
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24 March 2024 | 19 replies
You are correct that only certain states allow them.Citation- Wikipedia, so...possible clarification could be added, but this does a good job of summarizing what a SLLC is vs a prent Child LLC (or whatever you call what we did.)"
24 March 2024 | 25 replies
They spent a lot of their own time during those 6 months learning the biz in the hardest and most frustrating way possible, with no professional help, only to sell their home for $400k less than market value in the end.
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22 March 2024 | 4 replies
I updated the kitchen slightly with a backsplash and painted the entire house.