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25 December 2024 | 12 replies
Kansas City has several suburbs with populations over 100,000 including Kansas City, Missouri, Independence, and Lee’s Summit on the Missouri side and Overland Park, Kansas City, Kansas, and Olathe on the Kansas side.
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23 December 2024 | 3 replies
Quote from @Marc Shin: Hello,For the financing of a BRRRR, are there lenders that are willing to include the costs of Airbnb set up (i.e. furnishings) in the initial hard money loan for a BRRR?
29 December 2024 | 13 replies
If all that happened I suggest you start including dryers with the properties.
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26 December 2024 | 2 replies
He suggested calling them to negotiate something, to your satisfaction, as you previously stated, including removing the panels.
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2 January 2025 | 11 replies
Luckily, I did not include this unit in my underwriting when purchasing, so the survival of this property is not contingent on this situation.Continuing to optimize for management of the building when I move out, like moving everyone to online rent payments or adding remote accessible security cameras.Exploring opportunities to expand my portfolio—I've begun my hunt for my next 3 to 4-unit building to house hack, ideally in Lake View, North Center, or Ravenswood.This year taught me that real estate investing isn’t easy, but it’s undoubtedly worth it.
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26 December 2024 | 1 reply
Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.
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1 January 2025 | 14 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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26 December 2024 | 4 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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3 January 2025 | 42 replies
They want to put 75% leverage including interest only 3-4 year term loans on their acquisitions. $600M total potential acquisitions.
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4 January 2025 | 25 replies
If done right most of these gains are tax-free- $40K in equity capture (profit) with $20K out of pocket and 13% cash on cash thereafter (300%+ returns)- $24K of equity capture with $32K out of pocket and 36% cash on cash returns thereafter (75%+ returns)- $41K of equity capture with $27K out of pocket and 12% cash on cash returns thereafter (150%+ returns)None of the above numbers include loan pay-down or appreciation.