Tony Guardado
Bored in Canton Ohio
23 April 2024 | 5 replies
Looking for some new action and help ( if anyone has some experience and is interested in learning the rental game)My interests:Finding someone local to potentially set up short term rentals and managing themFinding someone local to manage maintenance on 100 property rental portfolio in Stark CountyFinding someone local with experience in the wholesale game to identify and lock down deals Finding someone local to work as a property management assistant Finding new deals (rentals, flips, re-sales)Finding people to drink cocktails with and talk real estate and sports Identifying buyers interested in purchasing rental properties in Canton Ohio that are rehabbed , city inspected and up to code with renters. $100k per property , $750 avg monthly rent ( ability to raise up to $1000)
Benjamin Weinhart
Question on Treatment of 1.263(a)-(f)(6) With Self-Renovations
22 April 2024 | 2 replies
It just so happens that none of the individual expenses exceeded the $2,500 rule even though the aggregate cost to construct a set of cabinets (example) may exceed this threshold.Since 1.263(a)-(f)(6) specifies intent rather than the end result (Unless you think (6)(i) would apply), since the intent of the taxpayer was not to manipulate this election for a tax benefit, my assumption is that they would be able to expense all of the items normally.Just looking for confirmation as I'm pretty confident my understanding of the regulation is correct.
Marty Howie
Canadian looking to buy first BRRR in San Diego
22 April 2024 | 12 replies
This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
Austin Merritt
First time home owner running the numbers - negative cash flow with a 2.25% rate
23 April 2024 | 14 replies
Thus, allowing you to take home profits now and let your future appreciation pay the bill.If you are interested in learning more about this style of property management please reach out and I would be happy to discuss!
Oj Brown
Where can I sell my airbnb Furniture 2 bd/ 2 ba Tucson, AZ to 1 person
21 April 2024 | 2 replies
Just say all or none or sell individual and have one pickup time.
Kevin G.
New to flipping. Do I really need a General Contractor?
23 April 2024 | 16 replies
That's a local legal / regulatory issue...If anything, what you are doing is great in my opinion to learn.
Taylor Jones
SFHs MFHs, Residential, Commercial and Mixed Use Portfolios
23 April 2024 | 2 replies
@David Ramirez Happy to connect with you also and learn more about your real estate goals.
Troy Smith
New real estate investor
23 April 2024 | 15 replies
Depending how much you earn you can step up those savings by getting a side-hustle in any part of real estate....working for a top Real Estate office on weeknights and weekends, working for an RE Investor, working for a General Contractor and learning a few skills, etc.
Sean Haran
New investor choosing a market 2024
23 April 2024 | 27 replies
Work closely with a lender to learn more about your financing choices and investigate various loan programs that may be available.
Vittal Premachandran
Solar Tax Credit While House Hacking
21 April 2024 | 1 reply
I'd recommend speaking with your tax advisor to discuss this further as what I said above may be outdated as I know the Inflation Reduction Act changed a lot of the energy credits for both individuals and businesses.