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26 February 2024 | 1 reply
.- Boosts Your Credibility: Being known as the person who knows what's best, even when it's not your deal, sets you up as a true expert in the field.BTW, you can also make money with referrals: Redirecting a seller to a service that better fits their needs can still be profitable for you, establishing another revenue stream while maintaining your integrity.The line between wholesalers that stand out and ones that burn out is how well you respond to seller needs.
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26 February 2024 | 11 replies
After that, my goal would be a steady stream of income while I take a few months to re-assess and figure out the next step in my career.
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27 February 2024 | 18 replies
.#1 Geographic AdvantageLocated at the intersection of two major interstates, (I-64 and I-75), Lexington serves as a pivotal transportation hub, facilitating easier access to various parts of the country.
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26 February 2024 | 7 replies
The city's strong rental market driven by a growing population ensures a steady income stream.
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28 February 2024 | 49 replies
There are so many revenue streams and upsells available and it's the high end properties that are succeeding right now.
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25 February 2024 | 17 replies
At least as far as being close to production hubs goes.
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24 February 2024 | 2 replies
Proximity to popular attractions, amenities, and transportation hubs can significantly impact your property's demand and occupancy rates.5.)
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26 February 2024 | 13 replies
As far as a multi, personally if all things were equal I'd go for the multi for a few reasons. 1) Added diversification.. if one tenant doesn't pay, you can still cover property expenses with the other tenants 2) Shared capex... typically, one roof and one property to maintain but multiple streams of income 3) Less vacancy.. usually multi's rent for lower, for example one of mine is the sweet spot of 3 bedrooms for $1300.
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26 February 2024 | 50 replies
I would think about this in terms of whether or not you can get additional streams of income faster than your money can accrue interest?
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25 February 2024 | 13 replies
get an umbrella policy to protect yourself, see if you need a rental license in your municipality. an LLC is only for insulating you for liability and anonymity, it will not save you on taxes and you really dont need to worry about it with one property imo . you cant protect a single property from lawsuit, insurance is what covers you just make sure you’re up to code. insurance will always look for a way to get out of covering an incident.if you register, you’ll want to report the income. if you make less than expected after deducting costs, then it’s time to raise rent. you wont be able to reduce more to reduce other income streams since you're not a full time real estate investorin the future if you ever sell, because it’s a rental now you will owe capital gains on the property. philly is probably like ohio and not california with it’s YoY growth being tied to inflation. with that said your profit is mainly going to be the equity you build from your tenant paying your mortgage. the money earned monthly should be saved as youre doing in case you have a capex repair/replacement come in like HVAC, roofing, etci advise you pay for an hour to speak to a CPA to better your options.good luck