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6 February 2025 | 7 replies
You can purchase them through a local dealer that has a good track record in the community.At this time our cleaners take care of the hot tub, but I will say if you have a certified hot tub company that can come weekly, I would definitely go that route!
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31 January 2025 | 3 replies
In short: $4.25M Purchase Price. 15% down. 3.25% with seven years remaining.
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29 January 2025 | 10 replies
Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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1 February 2025 | 1 reply
In my area specifically most investment type property listings are properties that were purchased 1 to 2 years ago.
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4 February 2025 | 7 replies
Unless it is a new build, and it comes with purchase warranties are an extra cost and may or may not even be executed when needed depending on the circumstances.
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3 January 2025 | 1 reply
This sounds like a home run and a great first purchase!!
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27 January 2025 | 15 replies
On the other hand, with an appraisal near the purchase price, that should be enough in this case.
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22 February 2025 | 23 replies
To be successful as a real estate investor in any form - except maybe purchasing the Vanguard REIT index fund - an investor needs education, knowledge and understanding of real estate principles, real estate law, and real estate finance.
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27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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22 February 2025 | 11 replies
Hello,I purchased my first rental property last year and rented it out for 10 months.