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31 January 2025 | 11 replies
I would certainly advertise that and add pictures and themed items to house.
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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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9 February 2025 | 33 replies
Is it because it's a 2 bedroom or is it because it's in a better location and looks better in online pictures.
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19 February 2025 | 14 replies
While blanket loans often cap at 4 units, there are some lenders who may be willing to consider both properties together if they understand the full picture of your deal.Regarding your idea of separating the single-family sale from the multi-unit purchase, it’s not unreasonable to ask for the purchase price adjustment, especially since the single-family home is already discounted in the package.
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24 January 2025 | 0 replies
(The picture is of a different project)
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28 January 2025 | 3 replies
I've had to use Craigslist a couple times in a pinch because I didn't know anyone local and needed pictures asap.
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26 January 2025 | 6 replies
There are no pictures of the inside, yet, but no major interior renovations were mentioned
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26 January 2025 | 2 replies
They’re great for trends, but digging deeper into local government or real estate associations will give you the most accurate picture.
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24 January 2025 | 8 replies
That will help you garner a better picture on if holding this property longer is a fit for you.
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31 January 2025 | 7 replies
Consult with a qualified tax advisor who understands these limitations and can help develop a comprehensive strategy aligned with your specific situation.Remember: The best tax planning looks beyond immediate deductions to your complete financial picture.