Mario Morales
I'm at a crossroads: should I refinance now or persevere and pay down another $40,000
24 February 2024 | 2 replies
Thank you.See Pic, refinancing at a 7sh % Am I understanding that you have a rate higher than 7% in your wondering if you should refinance?
Jose Leandro Gobea
Find money for down payment
23 February 2024 | 26 replies
You either have it or you don't, if you borrow it you need to disclose to the bank where it came from I understand the bank can't take that risk.
Paul Malandrinos
Transfer newly acquired investment property into my existing LLC? Why or why not?
24 February 2024 | 9 replies
I am a strong proponent of owning property in LLC's as long as the member(s) understands the importance of operating business functions of the the LLC correctly.
Hunter Cole
New too Real estate investing
23 February 2024 | 9 replies
I encourage you to get involved, ask questions, be open to feedback, and allow other seasoned investors to help guide you along your journey of Real Estate Investing.Best of Luck!
Brian Erlich
Is Airbnb as bad as they say
24 February 2024 | 28 replies
It does help to understand Airbnb and why they do what they do.
Jonathan Page
Any advice on a day job while starting in real estate investing?
23 February 2024 | 14 replies
I'll first introduce myself a bit to help you guys better understand my situation.
Jonathan Pantages
What amount can I charge for storage fees for evicted tenants property?
23 February 2024 | 4 replies
My understanding is I need to store it for 15 days, but that I could charge a reasonable fee if they choose to pick it up.
Chris Seveney
In Over Their Heads?
23 February 2024 | 24 replies
These assets were bought in 2021 and 2022 and you did not need to have a crystal ball to understand interest rates would be rising.
KC Pake
⁉️ 📲Your Most Expensive Lesson in Real Estate Investing: Share & Learn 🏢
23 February 2024 | 3 replies
I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.
Swapnil Tailor
First Time Buyer considering to buy STR property in Memphis
23 February 2024 | 10 replies
It’s definitely a combination of how you operate as well as the actual property and what it has to offer.There is already a lot of good advice on this thread about regulations and looking at comps - you make your money when you’re buying so don’t rush into something you don’t fully understand or have the answers to!