When analyzing a new construction deal, what's the one number you pay the most attention to? Purchase/land cost? Total construction budget? Expected ARV? Monthly holding cost? Projected profit? Financing cost? There's obviously more than one important number, but I'm curious which one experienced...
Managing rental properties involves more than collecting rent. A surprising amount of time can disappear into repetitive tasks like: Responding to rental inquiries Pre-screening prospective tenants Scheduling showings Following up on incomplete applications Answering routine tenant questions Rout...
Hello, our house is paid off and recently I came across an HEI (Home Equity Investment) from e.g. https://point.com/ In short, a company gives us about $100,000.00 for up to 30 years and uses our house as collateral or safety. So, we don't have to pay any monthly interests or fees etc. The way th...
The 4 numbers that decide every deal I buy in Memphis I run every single-family deal through the same 4 numbers before I make an offer: 1. Purchase + rehab — my all-in cost. I buy under $100K and rehab to force equity. 2. ARV — verified with 3+ sold comps in the same ZIP, never Zillow. 3. Monthly...
Hello everyone. First time poster and long time fence sitter. I recently bought a SF and have this ball rolling. I am currently attacking a market with my agent and I am seeing some great fits for my buy box. Two opportunities have come my way in a market that is incredibly aggressive. If the pro...
This is a weird one for me, I have a friend that wants me to help him convert his motel "with restaurant attached" into an assisted living facility. Currently I am having a hard time finding reasons that it wont work and I feel like we are missing something obvious. Any help would be great!
I got $20k to put down. What is my best strategy for the biggest ROI?
Did you know that zoning boards can't just say no to a group home because neighbors complain, but the protection people lean on for that is narrower than most operators think, and I see it get misused in both directions. The Fair Housing Act, 42 U.S.C. § 3604(f)(3)(B), requires reasonable accommo...
When evaluating a potential refinance, what numbers make it onto your checklist? For example: Current property value Current loan balance New interest rate New monthly payment Closing costs Cash-out amount Rental income Debt service Future investment opportunity I'm curious whether investors have...
Every Notice of Default in my county is public the day it records. I started to pull them daily. So are these owners the best leads in real estate, or the most over-mailed people in the county? I'm a licensed agent in a small Northern California county, and I haven't contacted a single NOD owner ...
Recent changes to the Illinois Mortgage Rescue Fraud Act (see https://www.ilga.gov/ftp/Public%20Acts/104/104-0553.htm and https://ilga.gov/Legislation/ILCS/Articles?ActID=2795&Ch...) seem to make purchasing sub2 illegal. Assuming anyway that the mortgage is delinquent more than 30 days or in fore...
What’s up bigger pockets fam! I wanted to briefly re-introduce myself (I’m committing to get more active in BP again!) and offer up question and answer support for anyone interested in investing in residential assisted living, actively, passively, or somewhere in between. Over my real estate jour...
Hey everyone, my name is Shaun. I’m newer to real estate investing and could really use some advice from investors with more experience. I recently purchased a property through a wholesaler in Indianapolis in the 46221 ZIP code. The property was marketed as a row house with D-3 multifamily zoning...
Has anyone tried renting by the room in a multifamily? E.g. A duplex with 6 total beds - each side gets each of the 3 rooms rented out separately?
I don't have much capital. I found a multifamily unit which is fully rented, it is 1.65m for the entire thing and it generates ~20k/m. The NOI is not bad on it and it seems like an outstanding deal. My thought process as a first time buyer is that I can find someone to pay the downpayment in full...
Not an operator myself, I work on the operations side for RAL Roadmap, so I see the same mistakes come up across a lot of first-time owners. A few of them aren't the ones the training courses spend much time on. The biggest one: budgeting for the license but not for the build-out that gets you th...
We receive about 600 loan requests per year. Probably 35 - 40% are seeking mortgage loans that even if they receive funding their problem won’t be solved. What these “borrowers” need isn’t debt, new debt, replacement debt, or more debt. What’s really needed to put their investment on the right tr...
Hey y’all currently in the process of renovating a 5B 3B house for rent. My original plan was just to flip this like everything else. I recently heard about residential assisted living facilities. Has anyone actually started one of these? Are they as passive as I have heard about? Would love to p...
Some of my earliest lessons about making deals had nothing to do with real estate. They happened around games of spades in the military. You’d have four people around a table, cards moving, people talking trash, and somewhere between hands, actual problems were getting solved. Guard shifts got tr...
I work for RAL Roadmap, and I keep seeing the same comparison happen: people treating residential assisted living like it's just another rental class next to short term or mid term, something you slot in beside your other strategies. I get why, it's still a house, still real estate. But the more ...
BP Community I could use your help. I recently read the book "Retire in 10 Years or Less" by Ryan D. Lee and Robert G. Allen after listening to an episode of the Ken McElroy Show, where they interviewed Ryan Lee. Most of the topics covered in the book are similar to the principles that I have alr...
Most people underwrite a recovery residence like a rooming house. Count the beds, multiply by weekly rent, back out vacancy. That math is what makes these deals look mediocre, and it is the wrong math. The value comes from one long term lease to one operator entity, not from per bed rent. Once th...
Hi, I have read posts in a number of forums about section 8 investing in Cleveland. I am a newcomer to the real estate investment scene in the US (moved here in the pandemic), and I wanted to connect with anyone that has experience with Section 8 investments in Cleveland particularly. I am intere...
Is rental arbitrage a good option for starting out instead of buying on a limited budget?
There's a lot of discussion around financing as much of a deal as possible. But I'm curious where investors draw the line. If a deal could potentially be financed with very little cash out of pocket, would you automatically prefer that? Or would you rather put some of your own capital into the de...