David Gelinas
1% and 50% Rules - CF Breakeven
Hi - newbie here trying to understand how some of the shorthand rules apply in a SFH BRRR and can't quite make sense of them. Let's use a basic example:
Cash Purchase a home for $70,000 + $10,000 Rehab and ARV is $11...
Tomeikia Gray
How do I find a real estate agent without being pre approved?
Hey, My name is Tomeikia. I am from Kentucky, and I am having a hard time finding a real estate agent without being pre-approved. I plan on using the BRRRR method for my first deal. What should I do?
Rachel Campagnolo
Title transfer rules in 1031 exchange
We are selling a CA investment property (single family) this summer, and plan to do a 1031 exchange into several other like investment properties. Question is, if the title is in an LLC in CA, what happens to that L...
Bryen Blankenship
Property Management Company Issued 1099 in Personal Name Not LLC
In May of 2019 I created 2 LLC's for asset protection for my properties in Chicago. One LLC was formed in the state of Wyoming as a partnership to hold my IL LLC as a single member which holds my properties. I've setu...
Philip L.
Structuring a deal - What are my options?
Yesterday I agreed to purchase a house in Michigan sale price is $110,000
The seller is asking that I pay $40,000 upfront to eliminate the current mortgage then the remainder $70,000 on seller finance for four years ...
Kate M.
Desperately need advice on a deal which is on life support/dead.
This is for a short sale which I have under contract. The terms state I would have the financing within two weeks which will run out end of next week. I am in the middle of the process of taking out equity in a ren...
Natalia Reeck
Can the seller escrow ask for more money after I sign and wire?
Hello everyone,I was the winning bidder on a REO property through auction.com. Here is what is going on:As the buyer, I have been meeting all deadlines and found everything they ask. Closing was supposed to be Februar...
Max Cordova
$400,000 Multi-Family in Central Jersey (worth it?)
Currently looking at a multi-family property in the Central Jersey area.
They are asking for $425k for the property.
It has 4 units (2 bd/1 ba)
Each unit can rent out for a minimum of $1200/month.
PROBLEM: Asbest...
Tyler D.
Looking for advice. I want to finance a small property. BRRR
I have a house I bought last year for 40k, and want to pull the cash out so I can put it into other investments. The two issues I have been having are:1) The closing costs are so high that it seems not worth it to pul...
Maria Teo
joint or seperate contractor & engineer contracts
I've heard it is preferable to have separate contracts with each building professional (architect, engineer, contractor), but why?I received a contractor proposal including both the contractor fees and the engineering...