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14 August 2024 | 5 replies
Do they perform well?
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15 August 2024 | 4 replies
The wife has excellent credit (high 700s) and the adult son (also a contributing income earner) has excellent credit as well (mid 700s).
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13 August 2024 | 9 replies
I understand I need to transfer my insurance to the LLC as well.
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12 August 2024 | 3 replies
How much detail on what you'd like to do with the land do you provide up front?
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11 August 2024 | 7 replies
Personally not a fan of out of state BRRRR.I think it's a recipe for disaster and having been in the game for 10+ years, I've seen the disaster first hand as I bought hundreds of deals from disgruntled out of state investors who thought they can do it themselves.My property management company has doubled in 12 months also due to out of state investors getting caught with a poor property manager when trying to do it themselves from afar so they come to us for help 🤷♂️I'm seeing many investors buying D class crap on the MLS for too much and that needs work.They end up being into the property for 30% more than they would be that if they just bought turnkey.A true turnkey provider will find the cheapest/best deals through a variety of acquisition methods, renovate well and sell for fair market value (And manage in-house).If things go South, they are solely to blame and the penny drops with them.But with DIY, who is to blame?
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12 August 2024 | 13 replies
I suspect I have had some luck combined with screening my tenants well.
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13 August 2024 | 21 replies
Namely, these 2 key bits...(1) Even tho the ownership test is only required of 1 of 2 spouses, the residency test is required of BOTH spouses if filing jointly, which we were planning to do.... yet my wife did NOT live in the house during the past 5 years, which means that we'd have to file separately and will definitely complicate things quite a bit, but if it's worth it.... then, well, it's worth it!!
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14 August 2024 | 33 replies
Alls well that ends well, the property just sold again and the new owners don’t mind sharing their new home with the ghost.
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14 August 2024 | 1 reply
This would then net the seller the most (320k market value) and give her the passive income/deferred gains as well as giving me a low interest loan to work with.
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11 August 2024 | 6 replies
However, I'm curious about the needs of experienced investors that a newbie could provide for.For you experienced real estate investors, where is it that someone like myself could add value to your investments?