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1 May 2024 | 7 replies
you can challenge the value with an accountant, appraiser, etc most markets have a person who charges a flat fee to lower it. in Columbus Ohio most of the people that do this have a guarantee to lower it or it's like half the fee
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1 May 2024 | 14 replies
For my personal portfolio I want to look back 10 years from now and be happy with the locations I decided to buy in.
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29 April 2024 | 13 replies
I also think it is important to educate on the journey.
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1 May 2024 | 27 replies
I found the wear and tear and guests that wanted to use this as a 6 person were not what I was targeting.
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1 May 2024 | 7 replies
If you cannot get your personal finances in order then I would not suggest building.
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30 April 2024 | 99 replies
Would love to see how performance pans out over the longer term.Also, my personal gut tells me with turnkey that the properties are not BRRRR'able as you're essentially getting them post-renovation for their actual appraised value and not below.
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30 April 2024 | 43 replies
Your accomplishments in real estate at such a young age are truly impressive, and your determination to take risks, save diligently, and continuously educate yourself is commendable.It's encouraging to hear about the challenges you've overcome as a long-term rental landlord and the rewards you've reaped from your efforts.
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30 April 2024 | 9 replies
Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.
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1 May 2024 | 2 replies
Jobs to consider include being a loan officer, a property checker/appraiser, an assistant to a property manager, a real estate agent, and a person who checks investments/underwriter.
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1 May 2024 | 3 replies
Most banks and traditional mortgages "Do not" allow foe the property to be vested or quit claimed into an LLC unless it specifically states it on the closing disclosures.In most cases even on DSCR loans the Bank/Lender still requires you to sing a personal guarantee even if they allow the loan to be vested into the LLC.