
7 January 2025 | 5 replies
if it is a BRRRR you'd pay the seller off when you refinanced into long term debt, either conventional or DSCR.i don't know anything about the location, market, etc. but if it needs a 40K rehab, you need to push the purchase price even lower than 140K, or it will not work as a BRRRR.

15 January 2025 | 7 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

20 January 2025 | 12 replies
Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

16 January 2025 | 3 replies
I've even had tenats bring their own range, but usually that's included in the lease as are dishwashers.

29 January 2025 | 22 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.

16 January 2025 | 12 replies
Waiting until you get a deal under contract to then see if you can put together the debt and equity is a recipe for disaster.

17 January 2025 | 2 replies
Amenities include, laundry, assigned parking, and wifi available for each unit.

26 January 2025 | 6 replies
Secondly, the homeowner would need to cooperate as she would need to submit a bunch of paperwork including income statements, tax returns, etc. for the Short Sale application to show that she is insolvent.

11 January 2025 | 7 replies
To defer all of your gain, you'll want to trade up in value, replace all the debt (meaning new properties have at least $350,700 of debt), and not take any cash from the exchange (this is boot which = taxable gain).As for replacement property, it just has to be real property - meaning it can be commercial, STR, land, etc!

15 January 2025 | 3 replies
If every rental listing has a washer dryer included that market expects it and you should have them there.