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17 April 2024 | 13 replies
TIA I look at these things the most when looking for BRRRR cities - Rent-to-Price Ratio: Look for cities where the average rent is high compared to the average mortgage cost- Population and Job Growth: Focus on cities experiencing steady population and job growth, higher than national average- Availability of Distressed Properties: Look for cities with a supply of pre-foreclosures, short sales, and abandoned propertiesNormally bigger cities in those states should do well, houses are still somewhat affordable (comparatively) and if you do a big rehab it'll pay off
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18 April 2024 | 14 replies
Over the past 5 years there has been literally several thousand 4 beds and 5 beds built leading to an over supply of this size cabin in low and mid season, which is leading to lower returns.
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18 April 2024 | 11 replies
Supply: The availability of MFH is considerably lower compared to SFH, which can pose a significant challenge when searching for the "perfect" property, especially when personal needs come into play.
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21 April 2024 | 240 replies
The investor just has to supply a $500 maintenance reserve with the PM to cover any of the smaller issues that require immediate attention.
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16 April 2024 | 6 replies
Your cleaning person should also let you know if you are short or need supplies (i.e. toilet paper, soap,etc) or if anything is broken or missing.I would create a checklist for the cleaning person of what they need to clean every day, what needs cleaning once a week, and what needs cleaning once a month.
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18 April 2024 | 12 replies
Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...
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18 April 2024 | 54 replies
I could see this being useful in a BRRRR scenario, but in that case you could be looking at a much longer term loan than 30-60 days, especially given supply chain issues and the uncertainty of the person being able to qualify for the cash out loan as rates continue to climb.
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15 April 2024 | 10 replies
Your repairs, supplies, and maintenance look excellent.
18 April 2024 | 83 replies
That's just not going to work when you add up higher rates, less supply, and net population growth.
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20 April 2024 | 100 replies
Am I reading correctly that it is abnormal to supply that information (As PDFs/XLS, not talking in a video) to a market-rate buyer?