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17 November 2024 | 5 replies
Finally, accountability is key, as we take ownership of our actions and results both individually and as a team, creating a foundation for trust, growth, and long-term success.
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20 November 2024 | 19 replies
Being able to pick their brains is always helpful, both their successes, red flags, war stories, etc.And as Jonathan mentioned, the very first step of actually taking action is knowing how much money you have to allocate to buying a property, fixing up a property (if needed) and how much a bank will lend to you.
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17 November 2024 | 9 replies
I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.
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15 November 2024 | 1 reply
Message from RentRedi:"ACTION REQUIRED:You must agree to the new terms and conditions to continue processing rent by October 7th.I have read and accept the Stripe Connected Account AgreementConfirmRentRedi is updating our payment processor to Stripe.
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15 November 2024 | 15 replies
Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs, commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?
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16 November 2024 | 9 replies
Quote from @Dennis McNeely:Ask the judge - point blank and on the record during a court hearing - to take action.
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18 November 2024 | 13 replies
If there is evidence of intentional destruction of the property, you can call local police authorities, but in my experience, they do not get involved in any situation that "smell" of civil action; they will simply tell you that it is a civil matter.
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13 November 2024 | 5 replies
Everyone is looking for a market predictor tool for MTRs and so far no one has produced one.
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14 November 2024 | 4 replies
There are some really great podcasts that talk about different things, and there are actually quite a few vendors that produce content (podcasts, blogs, webinars, etc) that can educate you a ton.
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15 November 2024 | 13 replies
Whats the best course of action?