
16 November 2024 | 3 replies
You can ask the contractor if he can identify the cause and if so you can bill back the tenant if they are responsible.2.

15 November 2024 | 15 replies
Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs, commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?

15 November 2024 | 5 replies
So I've started texting them back saying that "I'm not currently interest in selling but am trying to build my portfolio.

14 November 2024 | 25 replies
Thanks,JaredI'd only pursue this if there is an big upside for appreciation, or if you planned on keeping the house forever as a rental.Run the numbers, subtract 15% a year for vacancy and on going maintenance and repairs during each year, subtract 15% per year for maintenance and repairs to get it market ready once you decide to sell it.Example if you were to keep it for 5 years and sell at the end of five years:12x$200=$2400 year gross profit15% for vacancy, maintenance, repairs ($-360.00 per year)= $2040 gross profit per year15% set aside to repair, repaint, replace to get ready to sell on market = $1800 $7000-$8000 net for 5 years of rental.Appreciation over the term you would keep it would be the only incentive, and it could be a big reason why to rent it.

15 November 2024 | 4 replies
I have wholesaled properties but have not acquired my own property yet, looking to acquire a rehab home I can put some work in before the end of the year.

15 November 2024 | 13 replies
We manage properties in Indianapolis, and at the end of each month, we collect rent, deduct our fees and any repair costs, and then pay the rental owners the remaining balance.

14 November 2024 | 30 replies
2) Using our HELOC to supplement the down payment.. we do have some bonus payments coming at the end of the year we could pay it down plus the tax savings could help us pay it off, so maybe it would be worth it in the end?

14 November 2024 | 6 replies
@Christian Licata I realized I wasn’t going to get anywhere just sitting on the sidelines and so I spent several weeks analyzing my target market and ended up choosing a SFH that was in a great location.

15 November 2024 | 25 replies
Crowdfunding withing the US residents has a lot of regulation and that's the only barrier as far as the custody of crypto even though difficult not impossible but the actual asset t's risky also because it is a volatile asset and any cryptocurrency therefore for US residents unnecessary to raise funds through (unless using stable coins) crypto since the US dollar is what most end seller would require.

13 November 2024 | 6 replies
The reason is that there is not a huge recoup on the backend from the sale, sometimes you have to pay it off to actually get your price.