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27 December 2022 | 11 replies
One bonus about you paying the internet and owning the equipment is you can more easily add security cameras and/or a security system to the router/modem as the tenant won't be taking the modem/router when they move out as you will be owning that equipment.
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27 December 2022 | 0 replies
Use a construction contract to outline when work is to be completed and consequences if they are not met or bonuses if they are met.
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9 December 2022 | 12 replies
Our agent has used a stellar closing attorney shop in the past, but they were doing more than 100 closings in December (folks trying to cash in on 100% bonus depreciation?)
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27 December 2022 | 3 replies
I had thought this could be a win-win situation for both me and seller, however, I am not sure how I should plan on getting the funds to complete a rehab of the property.
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28 December 2022 | 3 replies
Real estate will win every time when you consider all the factors: cash flow, appreciation, tax write-offs, etc.My favorite book (if you can find it) is "The Unofficial Guide to Real Estate Investing" by Spencer Strauss.
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4 July 2018 | 11 replies
Utilities costs (Gas, Electric, Water) for the past 6 monthsThis part of your motivated seller questionnaire gives you the information with which you'll be able to decide whether the property needs a short sale, whether seller financing is an option, and how to structure a deal or an offer that can work for both you and the homeowner.You'll also need this information to properly market the house to your investment property buyers.If you're a new real estate investor, I hope you arm yourself with the information on this page to work out win-win-win solutions for your sellers, your buyers and yourself.Motivated Seller Questionnaire Red FlagsThe power of the motivated seller questionnaire is that it helps guide your interview process, and gives you a framework to make the screening as conversational as possible (In other words, it's a script, without the mechanical sounding words and phrases).It helps you in the 4 following ways: Avoid Outright deception by prospective property sellers Properly screen your inbound leads for seller motivation Helps screen out irritable, irrational, potentially psychotic people you should never, ever deal with Helps you build rapport with target ideal candidates Supplies information to help structure your dealsAvoiding Outright Deception I've had a property owner tell me "..All the house needs is less than $5,000 dollars in repairs, and it's ready..." on a house that clearly needed so much work ($35,000 to $40,000 dollars) that no buyer or agent had ever called him back.Better Motivated seller screening Being a successful real estate wholesaler is a matter of alignment.
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3 January 2023 | 1 reply
To calculate the 7 day maximum STR requirement for bonus depreciation, do I include those 6 months from that lease as a single stay?
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2 January 2023 | 3 replies
@Roy FurbertHappens all the time, you can file documents to fight it, sometimes you win sometimes you loseYour homeowners insurance is also going to be going up most likely as well
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17 August 2020 | 11 replies
A home run would be cash flowing a house hack, but breaking even or paying significantly less is still a win.
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31 December 2022 | 9 replies
We also planned to pull carpet which got wet in a bonus room next to another bathroom that had to be repaired following a leak.