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15 December 2021 | 15 replies
In fact I don't know the credit history of any of my tenants - never checked it.Yes I check stuff, yes I have grounds for rejecting applicants, no the state of their credit isn't one of them, yes I know some people here will get apoplectic about that, no it doesn't make any sense to do that for the demographic that are going to apply for a rental in the hood.So with that out of the way and it is relevant context, I am going to post about conversation had with one of my tenants last week.Me: Hi it's starting to get warm and I noticed last year the house seemed rather hot in the summer are you alright for air conditioning.Tenant: We ok Mr O, we got some air conditioners last year.Me: Really, you bought portables.Tenant: No we bought some had someone install them in the windows.Me: You should have told me you needed that I would have got it for you.Tenant: That's ok Mr O.Me: Do you have the receipts so that I can reimburse you.Tenant: You don't need to do that Mr O we are ok.
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10 September 2019 | 9 replies
Cashflow=Rent-PI-Taxes-Insurance)Of course Brandon's approach brings more peace of mind, and make more financial sense, but I would like to hear some different perspectives on how everyone out there is calculating (and taking decisions) around these ...
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19 April 2018 | 15 replies
Hey Jon,I had never heard of Willits, CA, until just now.This scenario RK sets-up here seems a lesson in hustling and actually does not make sense unless you are marketing to all-cash buyers.
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19 April 2018 | 5 replies
It may make more sense (so you don't lose deals) is to refi INTO a portfolio loan once you've acquired the properties and once they've stabilized.
17 April 2018 | 0 replies
One question is does it make sense to make the home “smart” (switches, fans, possibly appliances).
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17 April 2018 | 0 replies
I'm just curious what various lenders would be looking for in compensation and structure of this deal:Purchase Price: $25,000Rehab/Holding/selling costs: $30,000ARV/Sale Price: $85,00090 days for purchase/rehab/sale**My questions below are coming from the scope of my view that a HML being a formal institution/group with a bunch of standard terms, processes, etc... and a Private Lender being someone with money, willing to loan it short term, without all kind of formalities(if that makes any sense)So in a HML world, 65% of ARV would be right at $55,000... does anyone does this deal without requiring rehabber to have skin in the game?
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22 April 2018 | 30 replies
I'm not trying to be rude, just curious as to your method as it doesn't make sense to me.
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19 April 2018 | 33 replies
I would also suggest creating a plan for your own real estate investing and figure out if within your plan it makes senses to get your license.
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25 April 2018 | 9 replies
It is true I am giving my time away for free, but where I am at financially, that makes more sense than buying a course.
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28 April 2018 | 7 replies
Dig into their financials and see if they make sense on what they are bringing in vs spending.