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6 July 2024 | 8 replies
I believe that successfully navigating this initial investment will pave the way for future opportunities, whether in the same market or elsewhere.Living in New York City, I faced a challenging market ;)I chose Montgomery, Alabama.Here's my process:I compiled a list of states with favorable landlord laws.Using Brightinvestor, I identified cities within those states where the median home price falls below the national average ($420k).I excluded cities with negative income growth and rising unemployment rates.I focused on cities with strong appreciation rates over the past five years (over 10%).I compared price-to-rent ratios.I did break two rules: Montgomery has a slight decline in population, and its largest employers are an Air Force base and government agencies.One significant factor that influenced my decision was the promising price-to-rent ratio, suggesting potential for positive cash flow (though I remain cautious about appreciation).Regarding my acquisition strategy:I plan to employ the BRRR method with cash.
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4 July 2024 | 3 replies
An annoying fee, yes, and eats into cash flow and profits which is why you likely started on this endeavor, but the lengths people go to try to avoid what is, in the end, only $800 seems excessive sometimes.So, we don't have all of the facts or copies of any documents here, but generally, a trust only governs any assets that it owns.
4 July 2024 | 1 reply
Purchase price: $619,000 2 family house in new york city. i rent out to city government programs.
4 July 2024 | 7 replies
All security deposits shall be held by the landlord for the tenant, who is a party to the rental agreement, in a bank, credit union, or depository institution which is insured by an agency of the federal government.
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3 July 2024 | 3 replies
I've found some lenders that will go up to 80% sometimes, but I think your best bet might be a government-backed loan if you want such a high LTV ratio.
4 July 2024 | 3 replies
If you are looking to have anonymity of ownership, they passed a Federal Law requiring LLC owners to disclose their ownership of the companies they control to the federal government.
2 July 2024 | 1 reply
A ban on new ST rentals in the places where they'd be the most profitable (Lisbon, Porto, the Algarve and the coasts) was enacted by the previous government.
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3 July 2024 | 4 replies
Or you can create a separate operating agreement to govern both.
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4 July 2024 | 8 replies
I heard about a condo construction that was stopped by the government because they built more floors than approved.
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2 July 2024 | 2 replies
Eventually, the affordability gap will close as prices here moderate and hopefully our state government can come up with some insurance crisis solutions.