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16 January 2025 | 15 replies
You must must disclose to the seller everything including that you are selling it to someone else and how much money you are selling it to that end buyer.
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14 January 2025 | 5 replies
Stairs are the only way to get in, no grab rails in the bathroom, ramps that are too steep, etc.From what I've read, all commercial businesses/buildings (including ones before the ADA was passed) have to comply with the rules, unless it would be outrageously tough to fix (like installing an elevator in an already built building).Are all these local business just not complying and taking the risk, or am I missing something?
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15 January 2025 | 3 replies
Start by deepening your understanding of CRE fundamentals, including net operating income (NOI), cap rates, and lease structures like triple net (NNN).
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15 January 2025 | 6 replies
I’d also recommend getting a few quotes, including at least one from a mortgage broker.
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21 January 2025 | 18 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.
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19 January 2025 | 9 replies
It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.
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5 February 2025 | 54 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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17 January 2025 | 9 replies
Would you share 3 specific things I should do during my "training period" (if it includes a book, which one)?
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16 January 2025 | 6 replies
Include in your model rates going up by 2%, and just make sure you enough cash to cover.
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17 January 2025 | 6 replies
This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.