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9 August 2024 | 19 replies
I have 5 rentals with 1 bathroom and there haven't been many issues over the years.
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9 August 2024 | 18 replies
Here’s the plan I’ve come up with, and I’d love to hear your thoughts on its feasibility, potential risks, and any improvements you might suggest.The Plan1.Pay Off Mortgage: I currently have $170K left on my mortgage, and my goal is to aggressively pay it off in the next 1.5 years.2.Establish Emergency Fund: Before making any big moves, I’ll set aside 6-12 months’ worth of expenses as an emergency fund.3.Extract Equity: Once the mortgage is paid off, I’ll pull out the equity from the property.4.First Flip: Using the extracted equity, I’ll purchase another house, fix it up, and sell it for a profit.5.Reinvest Flip Profits: Instead of buying another property immediately, I’ll use the profits from the flip to renovate the original property, aiming to increase its rental income and appraisal value.6.Reappraise and Extract Equity Again: After renovating, I’ll get the original property reappraised and extract additional equity based on its increased value.7.Purchase Rental Properties: With the additional equity, I’ll start purchasing rental properties that offer positive cash flow and have growth potential.8.Leverage Equity Strategically: I’ll use equity from the original property and any new properties while maintaining a healthy loan-to-value ratio (LTV), ideally around 70-75%.9.Build Rental Portfolio: I’ll focus on acquiring a mix of property types (e.g., single-family homes, multi-family units) to diversify my investments.10.Focus on Cash Flow: I’ll prioritize properties that generate consistent positive cash flow, ensuring that rental income covers all expenses, including mortgage payments, maintenance, and management fees.11.Long-Term Hold: I’ll hold properties long-term to benefit from appreciation and tax advantages.
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9 August 2024 | 2 replies
Hi , everyone how many 5% conventional loan or fha loan can I have at a time for multi units property on "primary residence " and how can i use this strategy to scale ,i.e buying property every year to aquire more.
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9 August 2024 | 7 replies
I've been interested in real estate for the past couple years (after reading Rich Dad Poor Dad) and have finally started diving into BP and analyzing deals.
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9 August 2024 | 0 replies
Up to this point, I had worked for another guy and together worked on nearly 50 investment deals over the course of 6 years.
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8 August 2024 | 8 replies
Is 20 year ground contact lumber common?
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6 August 2024 | 17 replies
People date for years and then all hell breaks loose when they get married and move in together.
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9 August 2024 | 2 replies
I'm thinking of the expression "whatever works is what works for you" so I'm curious if maybe you should flip this problem upside down and start by thinking things like•What do I want my life to look like in 5-10 years?
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9 August 2024 | 7 replies
It might allow you to go from 3-5 properties per year to 12+.
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7 August 2024 | 6 replies
@Jaime Felber If you have a lot of long-term tenants and the homes are pretty old, many park owners I know usually negotiate a fair price in exchange for just selling the home and receiving lot rent.