Niecy Smith
Is having a real estate license beneficial before investing?
31 January 2023 | 32 replies
In other words, you'll be hiring an amateur that is emotionally involved in the transaction instead of an experienced REALTOR that knows contracts, knows laws, knows the market, has negotiating skills, can provide a second set of eyes, and is completely objective to the transaction.
Robert Ferrell
Using credit cards to fund the purchase of rental properties
15 November 2017 | 25 replies
This will allow you to not have such a emotional roller coaster when it comes to qualifying with financing.As for your Debt to Income you will need to be around 45-50% max (upper of 50% if you have lots of cash reserves).If you have the property bringing in 900 per month that you just bought for 60k then a lender assuming they dont have too many overlays will allow you to use 75% of this rent or 675 to offset your monthly PITIA or principal/interest/tax/insurance/assessments.Your PITIA on 60k depending on which state you have this house should be around 400 per month so you'd be positive 275 income per month (675 - 400 = 275).So it actually helps you qualify for more since 45% DTI of this additional 275 income you've gained is $123.75.
Joshua Herald
Getting My Partner (wife) Onboard
18 October 2018 | 16 replies
This helps take the emotions out of it.
Alex Deters
Is it a good or bad idea????
9 April 2022 | 53 replies
This book covers the most important thing you need to know and that is 'the math' because if you don't know how to do the math you can't analyze properties to get the most bang for your buck, no real estate broker will do the math for you to suit your agenda, you will not know where you are going after you purchase a property and will not enjoy the real estate business and not enjoy dealing with tenants when you don't understand how much money you are making in addition to cashflow.Go to bestline plumbing.com, scroll down to the link 'MS Access Software, download the free software and learn how to analyze properties before you get too excited and purchase the wrong property.Dealing with tenant including the bad tenants is actually a lot of fun when you understand only a few simple things I don't have time to explain, but my wife and I manage several fairly large apartment buildings and properties in 4 states with no property management company and we never let tenants get us stressed nor emotional because we constantly do the math and we are on top of our game.
Ashley Gish
Student loans or investment property
24 February 2023 | 172 replies
However, it’s really one of those what will make you sleep well at night (emotional) questions rather than a logical question.
Sarah Miller
Working with CPS?
4 October 2023 | 11 replies
Some investors are very good at taking the emotion out of their work, and an example applicant such as this one obviously has red flags all over the place.
Sarah Present
Purchase of multiple buildings - Cabins, cottages best strategy
26 September 2020 | 13 replies
For me it got too emotional, it was a dream come true to run those cottages.
Spencer Herrick
Now a good time to invest in rental investment properties?
4 January 2023 | 21 replies
Worry about what you can control, and don't emotionally invest yourself, be passionate but not fearful.
James Nelson
What to do if renter brought dog to no pet listing
5 October 2023 | 16 replies
. $250.Going off what @Russell Brazil said, it has to be a registered service animal, not an emotional support animal.
Colter DeVries
What would you need if you are offered to invest in a syndicated ranch?
4 October 2023 | 27 replies
Very useful input @Scott Mac on the difference between 80 LPs @ $50k and 4 at @ $1MM.My bigger vision is to get to a place with back office overheads, internal cash flows, and technology that would allow passive ranch investing to be available for as low as $500/ea for retail, non accredited investors.That is the democratization aspect and the vision/values vs execution dilemma I face when testing at $50,000 vs $1,000,000.Due to the registration being much cheaper, I must go the route of accredited investors only, for now.My subjective, populist, nationalist, rural Montana beliefs deep down in my bones that still emotionally and personally influence my decision-making-bias is that what we have in Montana is 1-special, 2-should be shared without being too commercialized and gentrified, and 3-is quickly being lost.With ranches as we all know, and I fully accept, becoming only for the UHNW, part of my core-motivation and driving belief is that technology (online syndication) should present an opportunity in the marketplace to bring in more of the "Average American" to participate, appreciate, and benefit from this asset; not just for it's historical performance, but for its actual tangible benefits (the feels).Pride in ownership, sense of place, vesting/shared interest in ecology, community, and food production.First it must be an asset though, one that makes sense in someone's diversified portfolio.