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15 January 2025 | 34 replies
A bank they actually ended up getting for free because of a tax reductions.
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12 January 2025 | 3 replies
Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income.
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28 January 2025 | 19 replies
Propose starting small, like a single-family rental or house hack, with a clear, low-risk plan to minimize concerns.Leverage your industry connections and offer to handle the initial responsibilities, demonstrating your commitment and capability.
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8 January 2025 | 34 replies
However, be cautious about focusing solely on low prices.
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19 January 2025 | 9 replies
At the time, his offer was low, and I had potential plans for that space, so I turned him down.
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12 January 2025 | 13 replies
The rules are designed to prevent related parties from engaging in exchanges that shift high basis property for low basis property, followed by a sale of the low basis property, effectively "cashing out" without recognizing gain.If you sell a property to a related party as part of a 1031 exchange, both you and the related party must hold the exchanged properties for at least two years following the exchange.
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20 January 2025 | 37 replies
cash flow has just been hit hard everywhere with the rise in interest rates. the properties in my portfolio that cash flow the most are at interest rates that it's not possible to get anymore - low 4s - and somehow there is still tremendous demand for properties that won't cash flow or break even, which is what you're finding.based on what you've said about your current situation... i don't have a good answer for you.
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28 January 2025 | 71 replies
Long wait but I got a lot of upgrades for a very low price.
13 January 2025 | 21 replies
Hey Account Closed - I highly suggest using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.
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16 January 2025 | 19 replies
Safe to say that many punters who invested in low cap rate syndication deals, especially during the peak of the hype, are getting schlonged right now.