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30 October 2024 | 21 replies
Some other copy & paste advice:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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22 October 2024 | 7 replies
You don't cash flow a lot (and in some areas you may not cash flow), but over time the tenant pays down your mortgage and (hopefully) the house appreciates in value.Go for quality over quantity (ie don't buy a cheap home in a bad area.
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24 October 2024 | 1 reply
The rents have begun to drive the market and are seeing some quality cashflow.
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25 October 2024 | 33 replies
(I am getting pretty tired myself sounding like a broken record).Direct mail marketing works SO poorly, you need to send THOUSANDS of mailers, AND you need to send these thousands of mailers SEVERAL times to get a deal.So:BECAUSE the performance is SO low you need to send thousands to COMPENSATE for its poor performance AND hit the receivers several times BECAUSE the performance is so low to get a deal.Conclusion: "Direct mail marketing works"WHAT THE HECK?!
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23 October 2024 | 10 replies
@Kamryn DeVaultTo invest in a duplex, consider factors like neighborhood quality, economic stability, safety, property condition, cash flow potential, financing options, tenant screening, lease agreements, future potential, legal and zoning considerations, maintenance and management, networking, and starting small and scaling.
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26 October 2024 | 50 replies
You will barely notice when things are going well for several months, but when things then go poorly you will be able to think about nothing else!
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25 October 2024 | 8 replies
For example:Task Estimate % Certain Low Estimate High EstimateDemo $1,000 80% $800 $1,200Roof $8,000 90% $7,200 $8,800Construction $8,000 80% $6,400 $9,600Misc $4,000 90% $3,600 $4,400--------------------------------------------------------------------------------------------TOTAL $21,000 $18,000 $24,000For me this is useful to determine a good deal because if the high estimate is still good I know that even if everything goes poorly it will still be ok.
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24 October 2024 | 4 replies
I recommend you look for a quality property manager to handle things for you.
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27 October 2024 | 25 replies
In my opinion, this program is not suitable for individuals with poor credit or those without at least $25,000 to invest.
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23 October 2024 | 8 replies
If they perform poorly, you are out the rent income or their paycheck, and you have to pay to fix the problem.