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27 May 2024 | 11 replies
Even under this scenario, with a 50/50 split, you will not be getting paid for doing all the work.Another option would be for you to put in 50% of the purchase price using an LLC that you own 100%, borrow the remaining 50% from your investor as a 2nd position loan at a fair interest rate with points, and borrow the rehab under your personal guarantee.Better, if you can find a lender who will lend to a newbie, and they are out there, you could borrow the purchase money using some of your cash as a down payment, as well as all the rehab funds using a construction loan.
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27 May 2024 | 22 replies
They are headquartered in Oregon and own land in several states.
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27 May 2024 | 7 replies
My network is large and any referral I give is someone I trust with my own legal, accounting, inspections, financing, etc.
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26 May 2024 | 4 replies
Suggesting that owning property in Puerto Aventuras is better than buying in Playa and Tulum because some areas in the latter cities is akin to saying it's better to own property in a little town in Upstate New York than in New York City because there are crime problems in some areas of New York City.
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27 May 2024 | 4 replies
Not all investors share the same goal.If it's strictly positive cash flow, you're going to have a tough time meeting that goal while living in one of the units these days in Belmont Shore.Under the current economic decisions, if you're going to live in one of the units, a more realistic goal might be to subsidize your mortgage with the other two incomes to bring your mortgage payment down, build equity, ride the market appreciation, force some appreciation of your own, refinance when rates are in your favor to crush the mortgage payment down, and keep positive cash flow for a long-term goal.Belmont Shore is a nice area where homes hold their value well and enjoy good appreciation as well as strong rents and in general, the type of renters landlords are looking for.Belmont Shore is also a good area for short-term rentals and you may want to consider renting one unit as an LTR and the other as an STR.Ultimately, your situation is going to dictate whether this triplex is a good investment for you and your husband but as a Long Beach resident, I know that Belmont Shore is an area that people aspire to buy a home in.
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26 May 2024 | 3 replies
I would love to connect with investors who own rentals in the Tri-Cities area and hear how they like the market.
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27 May 2024 | 18 replies
When all the expenses associated with owning and maintaining that house exceed the rent you can get from the property you are effectively upside down and are actually paying your tenant to live in the property.
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23 May 2024 | 3 replies
I also have my own side hustle handyman business (inactive I am not doing any work).
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26 May 2024 | 3 replies
Would they like their own of course.
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28 May 2024 | 68 replies
Yes that is my concern however isn't owning and having a bike some type of luxury and not something that is an actual need that needs to be accommodated?