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22 May 2024 | 30 replies
Does their contract require you use their vendors?
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22 May 2024 | 5 replies
$700 for expenses outside of PITI is too low.
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23 May 2024 | 35 replies
Being on title protects the seller from the buyer defaulting - it seems this is an alternative to "officially" putting them in a 2nd position)-- Title company sends seller the $350K they require-- Title company sends buyer back $650K (which they can use to pay off their transactional lender if they used one)So now the seller is happy bc they got the $350K they needed, the buyer is happy bc they acquired a property for zero dollars out-of-pocket, and from what I understand the 1st position lender is happy bc due the LLC arrangement the seller finance component is not technically considered a second lien on the property.
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24 May 2024 | 5 replies
@Eli DonosoTo purchase your first investment property, set clear goals, choose the property type, and prepare for financial requirements.
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23 May 2024 | 6 replies
If you have 30 houses with a total of $3 million in equity, then you could split them into three separate LLCs with $1 million each.The more complicated you make it, the harder it is to keep straight and the more expensive it becomes.
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23 May 2024 | 8 replies
versus a new property with it's income/debt load.Other considerations might be if that property you own is at a great risk for capital expense that can create a real urgency to sell and 1031 before the capital expense hits.
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22 May 2024 | 8 replies
Both times I ate the expense of repair after the neighbor eventually had the tree cut-up and removed.
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22 May 2024 | 2 replies
If it's a residential property, normally the loan will be more expensive to close directly under a LLC vs. your personal name hence the cost of debt tends to be higher.
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23 May 2024 | 4 replies
HOWEVER, my question is: given our goals/strategy, when analyzing returns for potential deals on the single-family rentals, along with a relatively low cash-on-cash return of roughly 1-2% should we allow ourselves to consider/count on 1) modest appreciation growth of only 3% year over year, 2) expense increases mirroring the current CPI of 3.5% and 3) low rental upside of only 1% (or even 0% given current market conditions).For example, if a deal gives a TOTAL return of roughly 15% year over year for 10 years but only starts out at about 1% cash flow via long-term rents, is this a good idea?
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22 May 2024 | 9 replies
If the building codes do not require the upgrade of the other units it is unlikely that the company is required to pay for the upgrage.