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7 January 2025 | 3 replies
If you only have one LLC and don’t need entity tracking, you could get a lower subscription and categorize your properties as ‘customers’, then units and tenants would be sub-customers.Simple Start would allow you to invoice your tenants (if desired through QBO) and produce basic reports.
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12 January 2025 | 6 replies
I made a relatively low offer and after one negotiation we settled on a price that was about 45% lower than the original list price.
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12 January 2025 | 23 replies
So your $10k could get you a property but what you don't think about is the tenant class is lower and the ups and downs are more frequent.
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7 January 2025 | 5 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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5 January 2025 | 7 replies
@Kyle Carter just because a building has all section 8 tenants doesn’t necessarily mean that the cap rate will be higher on exit but it might attract a buyer(s) that are focused cashflow and not appreciation; therefore a lower price to juice the yield.One of my non negotiables if I were you would be to only buy in an area that is desirable.
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8 January 2025 | 11 replies
While borrowing for a down payment is risky, increasing your savings will lower your interest rate.
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6 January 2025 | 11 replies
Purchased a property that needed some work and on the lower end of the market so homes were sitting.
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3 February 2025 | 31 replies
“Your success is only because you started back in 2025 when prices were lower, it was easier, etc etc.
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6 January 2025 | 4 replies
Consider starting with a few lower-cost flips with a smaller loan-to-value ratio to reduce financial strain.Market Research: Sacramento can be volatile, so I’d recommend keeping a pulse on local trends—particularly in the neighborhoods that have potential for growth but haven’t quite hit their peak yet.
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6 January 2025 | 7 replies
I just know I don’t have the knowledge yet to find a deal and a lower price point is appealing for sure.