27 October 2021 | 37 replies
I think at the point in which you allowed them to work after all the excuses of not showing up, you had signed off on the fact that it was OK to not make the allotted appointment times.If it were me: I would take the $3k, I wouldn't sign a NDA, I would use the possibility of an honest Google Review showing up as leverage not to sign the NDA, and I would think a little harder about my own business operations and how I would handle things in the future.
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23 October 2021 | 2 replies
@Clare YuritchI have a seventy-year-old-plus boiler in excellent operating condition at one of my properties. $6K to replace a boiler of any size is CHEAP.
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31 October 2021 | 4 replies
Otherwise, there are HMLs who operate based off of credit, DTI/DSCR ratios, etc., and in those cases you can seek out the preapproval first as it is more based on you as the borrower.
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18 November 2021 | 11 replies
It sucks but it'll fast track your understanding of how to operate a real estate portfolio (it's hard to hire a good PM if you don't understand the full extent of what their job entails)Deal #'s: $411k purchase price, 20% down conventional loan, $4400 gross rents / mo, maybe $5k in rehab.
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2 December 2021 | 27 replies
Or invest passively with a partner who runs the operations on the ground.
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27 October 2021 | 1 reply
However, you are correct that a business bank account in the name of the LLC needs to be opened to hold company assets.Regarding payments, it depends on how the operating agreement is written in my experience.
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4 November 2021 | 3 replies
Problem is there are important things they NEVER learn, and they operate with the handicap or inexperience and lack of knowledge, and hence are set up for failure.After 40 years as a successful real estate investor, private lender, and syndicator, my recommendation would be as follows1.
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2 November 2021 | 6 replies
Full disclosure - I'm a mortgage broker in CA, licensed, and I operate out of a Gmail account, so I don't necessarily agree that that's all scam.
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10 November 2021 | 23 replies
(if you want to be operating remotely, it might be beneficial to learn how to operate this way) You probably could, but it will take more creativity. ex.
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28 October 2021 | 3 replies
One thing to keep in mind is that different states can have vastly different regulations around lending and borrowing, so lenders may operate only in specific states vs. nationwide.