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23 August 2020 | 1 reply
Replaced all flooring, all appliances, garage door and garage door opener, selected window coverings, repainted the house throughout What made you interested in investing in this type of deal?
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24 August 2020 | 7 replies
To ensure we get a larger pool of tenants to select from when we listed it for rent, we priced it at the lower side (slightly below) the market rate at that time.
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27 August 2020 | 5 replies
This does open up your ability to work with accountants across the country.There are many accountants on this message board - feel free to interview a couple and select the one that you feel most comfortable with.
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1 September 2020 | 8 replies
I haven’t selected a broker yet so it looks like the exam/license app requires that information.
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25 August 2020 | 29 replies
I would handle tenant selection and rent the property out to tenants.
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24 August 2020 | 2 replies
Another thing to think about is whether or not you want to inherit that tenant vs selecting your own.
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26 August 2020 | 2 replies
Some markets have been hit harder than others of course.It's probably a result of sample selection bias because people that are on BiggerPockets are interested in real estate investing and far more likely to be educated on the subject and therefore better equipped to handle a crisis like this.
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25 August 2020 | 4 replies
Suppose I don’t have a realtor selected, a lender, PM picked out, etc.
24 September 2020 | 4 replies
Please be sure to select a Solo 401k plan provider which allows you to take a loan and will prepare the required 401k loan documents.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).There are no prepayment penalties and no restrictions on what you can do with the proceeds of the 401k loan.Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).
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26 August 2020 | 7 replies
Please be sure to select a Solo 401k plan provider which allows you to take a loan and will prepare the required 401k loan documents.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).There are no prepayment penalties and no restrictions on what you can do with the proceeds of the 401k loan.Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).