Cynthia Mene
Contractor recommendation Needed
11 February 2024 | 2 replies
Also hold back a good % maybe 20%-25% for the final payment.
Jarred L.
Confused on what to do (variable interest rate)
11 February 2024 | 3 replies
I got in when interest rates were great but i took variable and unfortunately the rates have gone up and my monthly payments have gone up almost 1400$ from 2 years ago. the plan was to refinance which is why i took variable but i never did as i was not sure what to do. right now the 3 units bring in a total of $3900 but the mortgage payments, insurance and taxes alone add up to about 4.1k.one of the units is a 1 bedroom where the man who has been living there for 28 years is only paying 580$.my main question is what do i do?
Josh Pulley
Should i invest in Ryan Pineda rookie/ BP boot camp
10 February 2024 | 19 replies
Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.
Alex Ng
How to make payments subto
9 February 2024 | 3 replies
I want to create an online account to handle payments from now on.
Tony Pellettieri
Our 1st CF Deal - Helping a friend in a tough spot
12 February 2024 | 0 replies
The plan is to take out a HML on one of them to cover costs associated with Acquisition and Construction, and DSCR Cash outs after the other two are complete.Exit - Plan to Hold all 3 soon to be Aquired/Built properties for rent / future appreciation, +Cash Flow, and +Net DSCR Cash outs.Acquisition - Contract for Deed $130,000 @ 0% Interest 9 monthsHML Payoff $73,000 + Legal Fees on Execution of ContractBalloon Payment of $57,000 at time of DSCR Refi after construction of home on lot one, and the finish of construction on lot two is complete.Mechanic’s Lien, $43,000 for foundation and other work done, paid by seller at closing when contract is fulfilled.Rehab/ConstructionLot 1 - Home to be Constructed TBD.
Clinton Davis
To Sell or Not to Sell. That is the question.
11 February 2024 | 12 replies
Well, that's also a possibility but I think my lender will only do 75% LTV which puts my new payment at around $1170 PITI with a $142,000 principle balance.
Gabriella Borukhov
Getting cold feet... please help run my numbers
11 February 2024 | 27 replies
Home price is $369,000 Rehab given is $80,000 Down payment is $44,900 Loan amount that I will owe back is $404,100 Loan is for 6 months Holding cost for full 6 months is ($3500*6) = 21,000Closing cost = 19,553ARV = 575000 (my agent said $600,000 but I am doing 575,000 to be conservation, with the way the market is going I do question if I should estimate it lower)With my math, using the full rehab loan and full 6 months with selling costs included, I estimate around a $53,000 profit.
Darian Gore
Should I hire a CPA
12 February 2024 | 11 replies
@Darian Gore 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.
Kate Brown
Land Flipping 101 Scammer Kris Thomas Land Flipping 101
11 February 2024 | 8 replies
Brown failed to avail herself of the service electing, instead to forego payment for the services provided.Therefore, the role and labor of any sales team became a commitment of Ms.
George Zev
Managing upkeep of Front Lawn and Property
10 February 2024 | 4 replies
My property operates within an HOA, recently HOA has been getting on our case for re-seeding/up-keeping the front lawn.As with most of CO, grass tends to die over winter, so here is my question: What is the best method to up-keep, re-seed and re-develop the front lawn?