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30 June 2018 | 2 replies
You want tenants screened and ready to occupy the property as soon as the paint dries.Try to segregate Rehab Expenses to as small amounts as possible
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28 June 2018 | 1 reply
It was a nominal amount of 729$...but for the sake of being fair I'm trying to gauge what the collective response would be.I agreed on listing the property for no fee (on the listing side) after repairs but ultimately my partners feel that the money from the buyers commission should be treated as profit to the LLC.
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2 July 2018 | 20 replies
When you go to Refinance the property to get your cash back the lender will give you a loan amount that is 70% to 75% LTV based on a new appraisal.
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30 June 2018 | 7 replies
My understanding is that the exception for UBIT in a 401k does not apply if you get a loan where the amount paid in interest, points, etc is somehow dependent on the profit you make in the deal.
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1 July 2018 | 5 replies
So after all is said and done you could: move out now, rent it for two years, sell it in 2020, pocket the amount of capital gain that you'd like to take as tax-free cash (up to the limits mentioned above), and then roll the remaining value in new investments.
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29 June 2018 | 0 replies
After doing some research, the land is wetlands and generally undevelopable, but will this yield me any equity as my land amount has doubled since the appraisal ?
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3 July 2018 | 23 replies
I also don't put an enormous amount of time into maintaining the site.
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5 September 2018 | 11 replies
I think they are legit, and they offer an incredible amount of tools.
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29 June 2018 | 1 reply
Phase 1: BRRR House 1 PurchasePurchase Price: $76,888Closing Costs: $ 4,690Total Initial Investment: $81,578Phase 2: RenovationsReno Budget: $25,000Phase 3: RefinanceAfter 1.5 years of slow renovations the house was appraised at $175,000.Existing mortgage balance before refinance $61,5000Refinance Mortgage New Amount: $105,000Cash Out In Hand: $39,700Phase 4: Purchase Another House - BRRR2Purchase Price: $120,000Down Payment: $24,000Closing Cost: $5,500Total Initial Investment: $29,500Phase 5: Rent BRRR House #1Mortgage: $657Insurance: $75Total Cost: $732Monthly Rental Income: $1,450Monthly Passive Cashflow: $718**** I was really lucky with getting $1,450 as the monthly rent, was really expecting $1,300.
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29 June 2018 | 2 replies
I sent those in and asked for letters on USDA, FHA, and verious amounts down for a conventional loan, and moved forward with the first three to get me what’s I needed.