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23 December 2024 | 9 replies
I've heard of where some coaches or courses weren't geared for newcomers and would like advice on a good land flipping coach that's not going to require to give them an arm and a leg but will really help me get started.
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14 January 2025 | 10 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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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3 January 2025 | 45 replies
On houses below $200k, the 70% rule gives you too low of a profit - you need to lower it the lower you go (ie a $100k ARV would probably be a 60% rule).
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2 January 2025 | 30 replies
Just to disprove your theory...by your logic, my first page search impression should be much lower than 80%!
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5 January 2025 | 10 replies
Every market in residential zoning has an expiration date, we just don't know what it is yet.The obvious solution is to buy in already regulated areas with tourist/commercial zoning.The returns are lower, but at least they can't go to zero overnight.
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7 January 2025 | 8 replies
Making matters worse, 99.9% of individuals on BiggerPockets who want to buy in distant markets do so because the entry cost of doing business is lower.
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7 January 2025 | 28 replies
We did get much lower costs when we changed to minisplits but the initial cost is high.
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27 December 2024 | 9 replies
Screening tenants is arguably the most important part to the first leg of property management.
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10 January 2025 | 23 replies
It’s a great way to lower your living expenses while gaining experience as a landlord.
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27 December 2024 | 34 replies
Seems like it's in a lower end area so if it is filled you will have tenant issues and turnover cost.