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9 January 2025 | 5 replies
Lastly, you won't be able to HELOC (or any cash-out equity) and 2-4 unit property in TX while it is still your primary residence.
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20 February 2025 | 114 replies
Congrats, on both of those deals and, more importantly, on staying persistent to find your niche.Lots of misinformation on this thread.Andrey is not pitching anything or lyingHe is not expecting 30% IRR on every opportunityFinding and vetting trustworthy sponsors is not as hard as non-syndication investors thinkPerforming diligence on sponsors takes years, not hours or daysMany sophisticated LPs perform extensive diligence on sponsors and opportunities that is not discussed on BP (TLO reports on history of crime, bankruptcies, collections, credit, businesses owned, personal residence owned, employment, family members (including phone numbers), even traffic violations...the list goes on)Many LPs leverage sites like Ian's, 506 group, in-person conferences, and one another to analyze opportunities and sponsors together (it's a lot more sophisticated that the "what do you think about XYZ" posts on BP)There are tons of sponsors and opportunities that don't use short-term, bridge financing or max leverageMost are using 5-12 year debt, with inception LTVs in the 70s and year 2-3 LTVs in the 60s (and carry high reserves on top of that)The opportunities discussed on BP are only a small fraction of what's available in the marketPrudent syndication investing is just like anything else in life...it takes diligence and time.
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4 January 2025 | 4 replies
I am curious as to if anyone is aware of any first time home buyers programs for buying the first Primary Residence.
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11 February 2025 | 167 replies
Currently your best bet will be to make the down payment and closing costs using USD presently (and for the last two bank statement cycles) residing in a FDIC-type depository institution.
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3 January 2025 | 11 replies
The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.
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5 January 2025 | 5 replies
It has to be your primary residence to be able to use your VA loan.
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5 January 2025 | 5 replies
Several options you can explore to get the down payment capital: Solo401k; HELOC on personal residence or from equity of the SFR; Cash Value Life Insurance Policy; Business Credit; Private Lenders, to name a few.
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4 January 2025 | 14 replies
Congrats on orthodontic residency, though I know residency will be time consuming as well.
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4 January 2025 | 11 replies
Enforcing the termination of a lease due to non-compliance (unauthorized resident) is not the same as ending a month to month lease.