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8 January 2025 | 5 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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10 January 2025 | 6 replies
Look for books published in the last 2 years as some of the books post 2010 seem to give people unrealistic expectations.
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19 January 2025 | 9 replies
All they ask for is your last two months bank statements.
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3 February 2025 | 31 replies
I re-read what you wrote and am not sure if you are the boots in Indy or you want them.Ive done that for the last 7 years.......since I joined in 2018.......You gave away my secret weapon lol
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9 January 2025 | 8 replies
Send a notice: The landlord can post a notice in a visible place and send a notice by mail to the tenant's last known addressRemove belongings: The landlord can remove the tenant's belongings and store themRecover costs: The landlord can recover the costs of moving and storage from the tenantSell belongings: If the tenant doesn't claim their belongings, the landlord can sell them at a public sale(End)Please only communicate with the tenants - all of them - in written form only so it can be used in any collection/court engagement.
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12 January 2025 | 8 replies
This diversity provides a certain level of stability to the job market.Population Trends: The population has seen modest growth in the last decade.
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11 January 2025 | 2 replies
@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.
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10 January 2025 | 6 replies
I am from California, but lived in Peachtree City, Georgia last year (renting), and currently live in Germany as an Au Pair.
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17 January 2025 | 37 replies
Really at the last minute before closing.
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13 January 2025 | 8 replies
The last time I represented a mobile home park purchaser, county health department allowed four MHs per septic tank.