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10 February 2025 | 16 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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14 January 2025 | 11 replies
Hi @Brian WongI can provide some ADU contractor recommendations in Los Angeles if you want to DM me.
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28 January 2025 | 7 replies
My recommendation is to save money through your W2 until you not only have enough for a down payment but a reserve for repairs as well.
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9 January 2025 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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9 January 2025 | 6 replies
Are there any resources that you'd recommend?
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13 January 2025 | 3 replies
I'd recommend looking for a house versus a condo.
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15 January 2025 | 8 replies
I wouldn't recommend it for a number of reasons.
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12 January 2025 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1815703/small_1621515813-avatar-clarkstoragellc.jpg?twic=v1/output=image&v=2)
16 January 2025 | 6 replies
Recommend multiple payments.
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23 December 2024 | 3 replies
I'll take any and all advice any of you have, but the two things I'm looking for specifically are: what sites, services, and/or software you use and recommend for sceening and managing tenants?