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19 February 2025 | 32 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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18 January 2025 | 15 replies
Service dogs can't do everything.
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18 February 2025 | 20 replies
That being said I do accept rent from all the major electronic services.
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17 February 2025 | 61 replies
Not your typically RE agent and I don’t sell I only buy till the day I die, my kids will have that choice if they choose to sell.
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6 February 2025 | 7 replies
If you are in a market that has alot of STRs, there is most likely reputable companies that will consistently service them.
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21 February 2025 | 27 replies
If you don't meet that 12 month seasoning requirement and/or want to hold the property under an LLC, a debt service loan may be a better option.
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21 February 2025 | 22 replies
My clients once they come on board with us generally will flip 5 to 40 homes a year.. pretty hard to do more than about 3 or 4 a month but I have a client in KC that does at least 30 to 40 with me and I know he has another lender.. the difference with a company like ours that is a capital partner your paying a touch more for the service but once its going its ALL our money and then the partners work.
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9 February 2025 | 36 replies
To clarify for those reading the company is Prime Corporate Services out of Utah.
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29 January 2025 | 3 replies
Which size of home is typically perform best on a cost benefit analysis?
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1 February 2025 | 7 replies
Most lenders I've worked with will use the lesser of the current rents or market rents reported by the appraiser when calculating your debt service coverage ratio.