All Forum Posts by: Sherief Elbassuoni

Doing 1031 exchange shoule help you with taxes

Be part of local Facebook investing groups and network with wholesalers and investor-friendly agents.

They will provide you with off-market deals

It is better to sell without lease. Not all buyers want tenants in the property they are buying

Checking the OOS investing book by David green would be helpful.

Having a property that is already rented is helpful since you can run actual numbers instead of pro-forma

tepical down payment is 15% for single family and 20-25% for small multifamily.

Typical cost for management company is 8-10% and a lot of them take 50%-100% of first month rent

You can get help from Turno or local FB STR groups

This is an early termination of contract. Stick to the contract.

If you wanted to play nice, let them know you may refund part of the security deposit if you got another tenant.

I do not know the laws in IL, but in WA the seller gives form 17 (Seller Disclosure) and this disclosure will have info about that.

If you are talking about defects of tens of thousands of dollars, a real estate attorney may be helpful

at least do system inspection (Roof, foundation, hvac/heating, plumbing, electric)

You may consider skipping inspection for minor stuff like kitchen cabinets, ...

BRRRR is amazing, but you will need to get the property on a discounted price, so that you have a big spread between purchase price and ARV.

You can also consider house hack. Split level houses with two kitchens or so work great as well as a starting point

I will tweak the strategy to have more balance between equity and cash flow.

Relying on appreciation or equity build only is not a great strategy.

If you have vacancy for 1-2 months, or big capital expense, you will be negative cash flow for the entire year