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8 October 2024 | 3 replies
(Of course other factors can play into it, location, rates, how long its been listed etc).I appreciate it!
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7 October 2024 | 2 replies
You just have to factor these in when you submit offers.
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7 October 2024 | 2 replies
Why Memphis is Ideal for House FlippingSeveral factors make Memphis an ideal market for house flipping:Affordable Property Prices: Memphis has some of the most affordable home prices in the U.S., allowing flippers to invest with lower upfront costs.Growing Job Market: With industries like logistics, healthcare, and tech expanding in Memphis, demand for housing is on the rise.Steady Appreciation: Home values in Memphis have been steadily increasing, providing a favorable market for short-term flips.If you’re looking to get into the house-flipping game, Memphis offers the potential for high returns in a stable, growing market.
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8 October 2024 | 4 replies
Market Considerations: What factors should I be most mindful of when investing in a new market?
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9 October 2024 | 11 replies
See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.
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7 October 2024 | 5 replies
Assuming primary, max DTI is typically anywhere between 43-49.9% contingent on factors like zip code, program, FICO, etc.
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9 October 2024 | 23 replies
It depends on so many factors.
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8 October 2024 | 6 replies
Side note: I have no interest in managing other people's properties so that didnt not factor into my decision-making What do you all think?
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8 October 2024 | 13 replies
Factor in vacancy rates, property management costs, potential repairs, and even things like lawn care.
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6 October 2024 | 5 replies
Make sure to factor in possible rate hikes when calculating your future expenses.Regarding your offer and projected numbersOffer Price Offering $525K on a property listed at $619K is a significant reduction.