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6 January 2025 | 25 replies
With that said I feel like I significantly improved my position and reduced my stress..Being high income earner is great, but the goal is what you keep and what you spend.
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30 December 2024 | 10 replies
I spend extra for the the supply house versions and rarely have issues during warranty period.
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28 December 2024 | 3 replies
Little to no rehab/capex spending was needed.
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28 December 2024 | 12 replies
I'm sure they also spend significantly more time on their role, than you do in yours....or at least their time spent is more constrained where yours can be remote/on the road.
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28 December 2024 | 1 reply
We would offer more of a budget-friendly option which could include FB marketplace/goodwill -Manages furnished rentals (STR/MTR) for investors.
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4 January 2025 | 20 replies
@Jesse Streng Great that you want to invest in the Detroit area but I encourage you to come to the city and spend a weekend here to get a feel for the market.
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30 December 2024 | 8 replies
Who wants to spend $100 to view a rental?
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28 December 2024 | 1 reply
This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.
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6 January 2025 | 8 replies
And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.
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28 December 2024 | 3 replies
Alternatively, you could split it between House 2 and 3 in a way that covers your building budget for the apartment.