Ryan Tongue
Finding "red flags" on older property listings.
9 February 2024 | 24 replies
You will find someone willing to do it based on SF, BR/bath count.Call a few local roofing companies for roof replacement estimates.
Abdul Ena
Capital Fundings, LLC – Review – Any intake?
9 February 2024 | 7 replies
I have not heard of them before; it could be a local lender. however, make sure you ask for references for past clients who have closed with a similar scenario as yours. not all lenders work with ITIN holders and Foreign Nationals, if you need a referral let me know.
Jen Breysler
Property Management Company vs Self-managing property in CA
6 February 2024 | 3 replies
My opinion if it were me is if I had a network of people/vendors(family members or friends to keep an eye on it, contractors/handyman if any repairs were needed, a re agent for showings if needed and so on) and a online software for collecting rent etc then I’d be comfortable managing from a far.
Michael Ashe
Starting out decisions without a ton of money
9 February 2024 | 10 replies
The following might be your next steps:Financial Review: Evaluate your financial condition, taking into account the down payment, probable financing terms, and overall affordability of a new house.Research Local Real Estate Markets: Learn about the local real estate markets in which you are interested in owning a rental property.
Kate Brown
Liar Kris Thomas Land Flipping 101 is a Fraud!!!
11 February 2024 | 40 replies
I checked local sold listing, the IRR is about 7-8%....sometimes there's jackpot of 20% IRR, but very rare.Just invest in QQQ was better lol
Waylon Bruce Moore
Cash out refinancing lender
9 February 2024 | 14 replies
Can you recommend someone in Tampa that is more broad in their experience than a traditional lender.Hey Waylon,Local to you here in St.
Bret Halsey
Columbus, Cincinnati, Louisville, Indianapolis Triangle
8 February 2024 | 29 replies
If you're local you might be able to manage your own properties.
Khursten Cornwall
Eager to Learn
8 February 2024 | 5 replies
Are you investing locally in the Anchorage area?
Jay Griffiths
Understanding risk when buying remote rentals
8 February 2024 | 2 replies
I'm comfortable with the obvious #s (ROI, yield), but my concerns are (1) figuring out whether the house is "on the right side of the tracks," (2) if there are any big ticket purchases (e.g. roof, water heater) that are required or impending, and (3) what the local economic prospects look like.
Mun Mohsin
Need advice on the first purchase_urgent
8 February 2024 | 4 replies
Here's a suggested approach:Verify Rent Increase:Request a rent roll from the seller to cross-verify rental history.You can ask the current tenant for confirmation, ensuring transparency and avoiding surprises.Contact Existing Tenant:Communicate directly with the current tenant to discuss the property and their intentions.Understand their perspective on the rent increase and their willingness to stay.Reason for Previous Buyer Backing Off:It's reasonable to ask the seller or their agent about the reason the previous buyer backed off.This can provide insights into potential issues or concerns with the property.Negotiate and Due Diligence:If you're still interested after clarifying these aspects, negotiate based on your findings.Consider conducting your due diligence, including a thorough inspection and possibly consulting a local property manager for insights.Evaluate Costs and Risks:Assess the costs associated with potential repairs and factor in the risk of the increased rent being accurate.Weigh these costs against the reduced purchase price and potential future returns.Remember, due diligence is crucial in real estate.