Michael Bertsch
Fireplace
21 December 2024 | 14 replies
Can anyone on there provide any figures for converting a standard fireplace to gas?
Becca F.
Questions for Ohio agents/investors and Class A, B, C in your markets
12 January 2025 | 25 replies
I flew there and walked the house, looked pretty turnkey rental grade): $1029 GFCI outlets, downspouts and guards, drywall, paint, bathroom vent$4615 (new AC unit since unit was stolen before tenant moved in, didn't file insurance claim because didn't want my premium to go up) $600 (water line, gas line, P trap)$60 lawn mowing$112 thermostat repairMy opinion is that Class C is better for local investors who are on site and know how to do repairs and self manage.
Jennifer Fernéz
Help with this deal!
18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
Nicholas Foy
Any experience with landlord insurance after property is burglarized and vandalized
27 December 2024 | 3 replies
- We had 2 break-in & furnace & HWH thefts there this year:(File a claim ASAP, you'll need:1) Utility bills to prove electric & gas were on2) A police report, proving a break-in3) Pics/video to prove the condition of the property to support theft claimWhat are you doing to mitigate additional damages?
Fred Robertson
Pier & Beam Foundation Heaving
19 December 2024 | 3 replies
I'm thinking that repairing the plumbing leaks and getting the soil dried out could be a permanent solution.
Amit B.
Leak from bathroom upstairs, tenant denies overflowing tub
10 December 2024 | 2 replies
Recently, I received pictures of a water leak in the kitchen ceiling, which appeared to be coming from the bathroom on the second floor.
Ryan Crowley
Pay off mortgage and snowball?
19 January 2025 | 61 replies
I can't buy gas with a percentage.
Maxwell Silva
How do I market myself as a new agent?
25 January 2025 | 26 replies
People will see this when you are at the grocery store, bank, gas station, restaurants etc.
Aidan Williams
Cleaner Making More than Property Manager
28 December 2024 | 12 replies
Just remember that $70 is the gross number they charge , they have to buy supplies , insurance , tools , vehicle , gas , workmans comp etc .
Stuart Udis
What language was added to your lease in 2024?
30 December 2024 | 7 replies
Their fill hose sprung a leak or something and hundreds of gallons of water poured into the apartment below them.