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20 September 2021 | 5 replies
Is he managing, leasing out your units, collecting rent and security deposits etc…?
20 September 2021 | 2 replies
@Tim Monistere the tools that @Joshua McMillion mentioned are great tools to use plus I'd add to that list by using zillow rentals, apartments.com, Facebook marketplace, and see what the exact match apartments typically go for.Also take into consideration the type of finishes or other items you include with your unit.
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21 September 2021 | 3 replies
@David ShivesI would have a separate checking account for the property where rent is deposited and expenses are paid out of and then a savings account or money market account where you can keep reserves.
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24 September 2021 | 10 replies
Some say if they have a security deposit and you know they will be difficult promise a full refund as soon as they move out and turn over the keys.
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23 September 2021 | 11 replies
I assume you kept her security deposit.
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21 September 2021 | 5 replies
Are there statements or bank account deposits that verify they are actually paying rent?
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22 September 2021 | 3 replies
Sine her rent is unpaid, there is not enough security deposit to cover both unpaid rent AND damages that may need repair.
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31 October 2021 | 16 replies
•Banning ownership of your IRA of more then 10% of ANYTHINGoIf you wanted to own a rental house in your IRA, only the IRA itself could own it; you wouldn’t be able to use the statutory protection of an LLC.oNo more use of Land Trust or PPToNo more Checkbook IRAsoNo more Joint Ventures in which your IRA owns 10% of a deal or an entity•A proposed limit on Roth ConversionoOnly Pre-Tax traditional accounts may be converted to a Roth IRAoFor you business owners, this will effectively mean that only your Employee Elective deferrals ($19,500 in 2021) and Pre-Tax Employer matching will be eligible for Roth Conversions.
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12 December 2021 | 10 replies
I get loans from a local bank who takes application deposit which are refunded if no loan is closed, less the cost of a credit report or possible appraisal.they offered true no credit reported commercial loans that don’t count towards your Fnma list and have long before the new lenders.
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21 November 2021 | 4 replies
I don't mind leaving capital in a BRRRR deal provided there is equal or better equity to match BUT it also has to cash flow to my standards while fully leveraged at 75% of the ARV.