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7 September 2024 | 11 replies
Some properties will require different rehabbing than others, but we will stick as closely as possible to the system we have in place for ALL properties.TEAMS AND SYSTEMS In time, our team will grow to consist of the following: Agent/Broker CPA Lawyer Escrow Officer/Title Rep Insurance Agent Property Manager Handyman Private Lenders/Equity Partners ContractorsWe will follow the same rehab plan for all properties, as closely as we can, in order to streamline all decisions and maintain the desired budgets for each property.EXIT STRATEGIES AND BACKUP PLANS Our foremost exit strategy will be to sell the property once it has been rehabbed.
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3 September 2024 | 3 replies
.- Inventory Growth: This one’s big—inventory shot up by 44.6 percent to 1,469 units.
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5 September 2024 | 0 replies
With occupancy rates consistently above 95%, Old River Place is well-positioned to meet the growing demand for rental housing.Bascom plans to upgrade unit interiors and enhance the property’s exterior and amenities, offering affordable yet desirable housing.
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9 September 2024 | 22 replies
Excellent location in Mesa.I shopped around and I found a mortgage broker who was able to get me a 6.99% rate who took the loan to UWM (united wholesale mortgage).I negotiated a $15k seller concession I used for a 1-0 buy down so my rate for 1 year will be 5.99% and then revert to 6.99% for 30yrs. and then we used the rest of the concessions for closing costs. in 6 months or 12 months I will revisit to see if mortgage interest rates dropped significantly to justify a refinance to lock in a lower interest rate.part of the approval process for the Fannie Mae 5% mortgage is to make sure that i could afford this property and that i have good credit, my income is consistent and stable and it reflects that on my tax returns, I have sufficient capital reserves for the subject property and my other 10 Multifamily properties (6 months of PITI for the subject and then it's percentage based off of the loan amounts and how many properties you have)I agree, the more that government "helps" they therefore are increasing pricing.
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7 September 2024 | 7 replies
Lastly, if you're considering a career change or starting your own business, it will be difficult to qualify for a mortgage until you can show stable/consistent income.
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6 September 2024 | 9 replies
High demand in those locations pushes rents and prices consistently higher year over year, access to commuting and metro reduces vacancy, much more demand for room rentals south of 200.
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6 September 2024 | 8 replies
I personally run a property management business with a small portfolio of properties consisting of my own and a few other investors' single family homes.
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8 September 2024 | 101 replies
Firm, fair and consistent will go a long way and tenants need to know you will not put up with any crap!
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5 September 2024 | 16 replies
When he does respond, it is usually to apologize for the missed disbursement or to promise action, but he rarely follows through, forcing me to consistently follow up.In the past year, I have received my owner disbursement payment on time only once.
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5 September 2024 | 7 replies
Just make sure you have a consistent policy for expensing items under this threshold, as the IRS looks for that consistency.In your case, if the Polyurea flooring is just making the garage look nicer and not really improving the structure or extending its life, you could argue it’s a repair.