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15 May 2024 | 7 replies
Not sure your area that you're investing in, but the perfect BRRRR are kind of hard to come by now in the recent years.. so have the expectations to leave some type of money in the deal..Big thing that I've ran into and I've seen other investors run into is running out of money doing the BRRRR.. as some or most times you have to leave a bit of money in the deal, folks usually run out of cash to continue to do deals.. especially in the recent years..But good news is.. as you're holding and cashflowing on the deals, there is always opportunity to recapture the equity, not to mention tax benefits etc..I also see some pitfalls in investors getting desparate for deals, so they get lenient on their number etc.. as they do i see some get backwards on some deals...
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15 May 2024 | 5 replies
They need the insurance declaration pages (1-2 pages showing the annual premium and the insurance agency contact info), property tax bill, and mortgage statement.
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14 May 2024 | 2 replies
Hey Jesse,Partner with a lender that will finance assignment fee's, they will have your buyers.
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15 May 2024 | 6 replies
A lawn service will also be able to validate your claim that the tenant is not watering appropriately, making the fee of neglect all that more legitimate.
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15 May 2024 | 9 replies
If you decide to use him for your services maybe it is worth negotiating him to a lower fee for coordinating the transaction and doing the paperwork.
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14 May 2024 | 5 replies
I would prefer to self manage to avoid the high poperty management fees (I think its around 10% + 1 month leasing fee, etc.) and I also worry that the property manager will likely not be as dilligent in finding high quality affordable vendors, etc.I see 4 major pieces of work1) Tenant finding: I feel comfortable doing this remotely.
15 May 2024 | 8 replies
An easy math example is $1,250 of rent needs to support $1,000 of mortgage, property taxes and insurance and HOA (if applicable).
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15 May 2024 | 3 replies
We would ask about why they were in town (since we were not a major travel area), and we would decline any suspicious stays (i.e. had someone ask about waiving the cleaning fee because they "were not going to sleep" there with their one night stay.)
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15 May 2024 | 0 replies
Question: If we move the house to a different location vs demolish how would this affect the 1033 and capital gains tax.
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14 May 2024 | 3 replies
I was using PayPal, cause instant and no bounce but really high fees