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21 January 2025 | 4 replies
Hello Andrew,I’d recommend starting by finding an agent who specializes in rental properties.
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28 January 2025 | 10 replies
Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.
9 January 2025 | 0 replies
Understanding the IRS disaster relief provisions is crucial for residents seeking financial recovery.Under IRS guidelines, individuals and businesses in areas designated as federally declared disaster zones by FEMA may qualify for special tax relief.
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22 January 2025 | 14 replies
I think you bring up a good point of considering offering higher returns to investors if I have to begin to search outside of my network.But my original question from the post still remains, where would you recommend I search for people interested in an opportunity like this?
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29 January 2025 | 10 replies
Here’s my recommendation to get it under control: For a quick fix, start by sealing up any gaps using acoustic caulk around outlets, baseboards, or other small openings.
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21 January 2025 | 2 replies
BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.
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27 January 2025 | 9 replies
Wilson, thank you for recommendation.
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21 January 2025 | 18 replies
But wanted to say that I highly recommend checking out REIA for Oh and/or Cincinnati and Dayton.
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10 February 2025 | 16 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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28 January 2025 | 3 replies
When it comes to repairs, I recommend talking to contractors who can walk through the property for you and give you a solid estimate.