John Marchefka
Rehabbing land INSTEAD of houses??
10 January 2025 | 13 replies
Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value. 1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).
Joseph Kirk
Advice on entering the fix & flip industry
5 January 2025 | 17 replies
Exterior Deck or PatioAdding an outdoor living space like a deck or patio extends the usable living area and enhances the home's appeal, especially in regions with warm weather.In addition to these improvements, understanding the local real estate market and focusing on upgrades that align with buyer preferences in that area is crucial for maximizing ARV.Noah, thank you for this great feedback.
Rafael Ro
What are some realistic tenancy terms and maintenance costs (turnkey)?
19 December 2024 | 5 replies
Take a look at this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% This is how likely a borrower is likely to default on credit extended to them.
Gamal Harding
Property Management is Much More than Collecting Rent…
23 December 2024 | 9 replies
Use a tiered approval process to give them control over larger expenditures while enabling quick resolution of smaller issues.2.Proactive Maintenance: Implement preventative maintenance programs to reduce costly emergency repairs and extend the lifespan of property systems.3.Monthly Reporting: Deliver detailed monthly financial statements that outline expenses, rental income, and ROI performance.By handling their funds with care and providing transparency, trust is built with owners, ensuring they feel confident in the relationship.Making Tenants Feel HeardHappy tenants are the foundation of long-term occupancy and reduced turnover.
Katie Roche
Rent to Retirement...Proceed with Caution
16 December 2024 | 3 replies
Negative cash flow and extended vacancy.RTR’s property management recommendations have been disappointingRTR team has been supportive and informative over the last 7 monthsAs a first time investor, I was thrilled to learn about RTR.
Dina Schmid
Is a Loft a Bedroom?
18 December 2024 | 13 replies
However, i am unsure those requirements extend to the OTAs.
Jake Andronico
Reverse 1031 Exchange - Who has done one?
23 December 2024 | 13 replies
Maybe you could extend the closings with some additional earnest money (even if you release it) and buy the time so you can simply do a regular 1031 exchange.
Ryan Fox
is the structural engineer correct??
17 December 2024 | 15 replies
Fix gutters, extend gutters at least 10 ft haul in dirt around foundation if needed the best soil for a foundation is a heavy clay type , cut back trees if needed .
Brendan Connolly
Looking for tips for slow season
19 December 2024 | 13 replies
She let me know yesterday that they just extended their stay til March of 2025.
Sunil Kale
Missed 11 month warranty - no communication from tenant
16 December 2024 | 19 replies
You are suffering from a common misunderstanding of the law.