With about $70,000 in tentative contributions, we intend to use this money for holding/loan costs and rehab reserve using 100% LTV loans, so as to maximize the number of flips we can do at any given time.To do so, we were planning on pooling funds in one LLC that gives our passive partners equity in the company.

hey everyone, to start off my I'm 33 and my name is shawn. i purchased my first home back in 2018 with the intention of living in/fixing it up over the next couple of years while i saved to make more investments. 

Purchase price: $6,000 Cash invested: $6,000 Sale price: $17,000 I went into the property with the intention of wholesaling it.

Because that would never be my intention.

The intent of the law is that it be the primary place of residence, actually occupying the property the majority of the time.talk to the city and ask for clarification.

Unfortunately, when we did our best to be a light for those last-minute responders and others stuck without entry into their country of origin due to the international lock-down, an individual took advantage of our good intentions.

I would have Focused  much more intently on the Art and Science of Sales.

I don't want to intentionally denigrate anyone who works there since they are likely trying the best they can, but, as someone who has attempted to work with the building department on numerous occasions, it is frustrating at a level I've never before experienced.You first issue will be zoning: it's likely if it's a 2 family currently, you'll likely have to apply for a change of use, which requires a separate legal process to have the city permit you to construct a third unit.

So to all those who have got these elaborate plans like I did six or seven years ago with the intention of building a real estate empire: Don't bother.

Hearing the word 1031 makes me ill now.