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18 January 2025 | 36 replies
A a low-temp sensor be added for you to be called if the temp falls below 55º ?
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15 January 2025 | 14 replies
The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market: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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29 January 2025 | 47 replies
I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty).
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9 January 2025 | 3 replies
To address this I took detailed pictures from beginning to end of my most recent flip, documenting that we did a thorough job using quality materials.
13 January 2025 | 7 replies
With a low 4.75% rate but minimal cash flow ($50–$125/month), your equity could likely work harder elsewhere.
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17 January 2025 | 6 replies
These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).
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18 January 2025 | 17 replies
Just focus on running the numbers carefully to ensure the property cash flows or at least covers expenses, and don’t hesitate to lean on resources here for advice.If you’re financing, look into FHA loans, as they’re great for first-time buyers purchasing up to 4-unit properties with low down payments.
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14 January 2025 | 16 replies
Other introverts will feel comfortable with you and that could actually help your journey......more important qualities are honesty, integrity and being a harder worker than others.Just be yourself and go get started.
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30 January 2025 | 24 replies
We'll certainly want to keep the property tax basis as low as possible if we hold it.
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7 January 2025 | 22 replies
Nobody likes to work hard in the heat.The biggest concern in the past has been winter, but 2024 was the warmest year on record and we have seen +3F on average in every season, which really took the edge of winter (you can call it brown grass season now) while summers are pleasant 75-85F.The cost of living is low, yet the quality of live is relatively high.