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1 November 2024 | 2 replies
If it was properly done, it's recorded and should be visible on the title report.
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7 November 2024 | 18 replies
Also, sent my coach and Peter (in FB group) some deals that I felt are worth looking at, but they kept denying my deals without even looking at them properly.
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31 October 2024 | 6 replies
It's absolutely worth taking a deeper dive.I've been investing in Detroit proper since 2019 and have 12-doors there.
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5 November 2024 | 28 replies
If you are just getting started, good insurance may be the better play.Assuming you have a large portfolio, you know how to manage an LLC properly, are willing to take on the added paperwork and expense, and are not piercing the corporate veil by having mortgages in your name, here are my reactions to your proposals.
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1 November 2024 | 8 replies
: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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30 October 2024 | 35 replies
The sophisticated money is not buying in stagnant markets with poor fundamentals because they can achieve the 1% rule, can complete a BRRRR or because of more favorable landlord tenant laws exist just to highlight what’s rarely part of their acquisition criteria which is a stark contrast to the mindset of most within the BiggerPockets community.Since your focus is specifically on landlord tenant law component I’ll add those who follow the law, properly maintain their property, respond timely to tenant requests, use well drafted and fair leases and don’t unreasonably withhold deposits find themselves in far less tenant controversies.
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5 November 2024 | 34 replies
Bear in mind, you will have to tweak these numbers based on what you think are proper estimates.
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1 November 2024 | 3 replies
They failed to do it properly and caused the damage.
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30 October 2024 | 2 replies
But without the proper education it's pretty much a waste of time.
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31 October 2024 | 5 replies
We are Canadians and we invest in Detroit with proper caution it is a great investment location and we are more the willing to share what we do with anyone who wants to chat