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21 April 2024 | 14 replies
I had a similar situation with my partner and we were lucky to find people through our network of friends.
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20 April 2024 | 33 replies
They also cap ACH transfers in at $5000/month, so if you're in a high-rent market you might not even be able to accept all your rents from a multi-family property through their system.
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16 April 2024 | 0 replies
I came across a decent property for decent price but that property has residential power lines passing through its back yard.
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21 April 2024 | 22 replies
Hi @Drew SygitSounds like a tough situation for both you and your investor.Over the last few years, HomeRoom has housed thousands of roommates in our homes and used that time/experience to fine-tune our approach when dealing with cities and neighbors.City interactions are quite rare and we are typically able to work through them.
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20 April 2024 | 100 replies
There is no other way to find out if the tenants have paid rent except through the seller/seller's agent.
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19 April 2024 | 15 replies
I own multiple rentals (with conventional loan types) and its getting tougher for my next big rental ($2M property) which I am going to purchase through a partnership LLC.
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20 April 2024 | 9 replies
After the 2008 crash we did a lot of short sales and we got virtually all those deals through direct marketing with a few from bandit signs.When we moved out to KC, almost everything we bought were REOs listed on the MLS.When those dried up, we started getting a mix from wholesalers, a few hidden gems on the MLS and direct marketing.
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20 April 2024 | 22 replies
you don't just go to a website, write in some numbers and poof, get a proof of funds. you need to speak with a mortgage officer to go through your income, assets, debt, etc. and see if you qualify for it.
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19 April 2024 | 2 replies
What information is needed when dealing with a wholesale going through forclosure??
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19 April 2024 | 15 replies
@Hannah Potter Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.