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22 January 2025 | 12 replies
Given that and some other characteristics, from what I'm told it would be in demand as far as rental applicants.Ideally, I would like the option to return to it.With repair estimate of 1% of purchase price and property management fees, it's pretty much a break even on the monthly overhead.
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17 January 2025 | 23 replies
Okay pal, go with them I am sure it will work out the same (sarcasm) (hangs up phone).Like anything in life, you get what you pay for.
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3 January 2025 | 3 replies
Hi everyone,
I’m a new investor learning the ropes of being a midterm landlord. I bought an outdated condo, planning to do a cosmetic rehab later when I had more budget.
I moved out of the condo in mid-2024 for a ...
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14 January 2025 | 6 replies
PMC staff are good at maintenance and maybe repairs, but they are NOT licensed contractors with years of real-world experience.
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10 January 2025 | 12 replies
There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be.
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9 January 2025 | 20 replies
Quote from @JD Martin: Quote from @Benjamin Weinhart: Speaking to your item #6, I was actually told by the staff here over the phone maybe 5-6 months ago that DMing someone is fine so long as it's not a copy/paste ad and is specific to the individual.
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11 January 2025 | 11 replies
I'd connect with some local investors either through the Airbnb app.. can message them as a guest and ask for a phone call to see their experiences and see if someone can send you their P/L or share experiences, and or connect with local facebook groups.
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14 January 2025 | 18 replies
Quote from @Basit Siddiqi: I personally would not buy real estate with a retirement account.There are just too many headaches that are not worth the potential increased return.Some headaches when it comes to investing in real estate with a retirement account1) LTV values are less and harder to find lenders.2) Potential to sell or partially distibute the property if you have to do a RMD(Required Minimum Distribution)3) If you run out of cash and have to make a major repair, you may be out of luck and have to sell.4) Having to potentially worry about UBTI(Unrelated Business Taxable Income)I would personally invest in stocks/bonds/notes with a retirement account.I buy deals with cash and use a ROTH SDIRA so there are no RMD's.I buy at huge discounts to retail.
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4 January 2025 | 11 replies
There are phone apps that help with that.
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12 January 2025 | 2 replies
My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.