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12 January 2025 | 20 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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14 January 2025 | 28 replies
This included all the data from the first 6 months of the year as I did not hire her until July.
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15 January 2025 | 2 replies
I know hosts have included additional cleaning fees for violations as a deterrent.If none of these solutions work, you could look into completely independent HVAC systems for the two units, though that would be a bigger upfront investment.
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19 January 2025 | 269 replies
This also costs 200-300 EUR depending on what's included.
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17 January 2025 | 9 replies
I'm sure many here, including myself, would be happy to discuss potential opportunities with you.
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22 January 2025 | 22 replies
The minimum sheen I would use for any rental is satin (Very rarely eggshell).Does your rate include cleaning fees?
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16 January 2025 | 0 replies
This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?
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15 January 2025 | 6 replies
Purchase price: $85,000 Cash invested: $33,000 Cash flow is after all expenses including vacancy, maintenance, and capx deductions.
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15 January 2025 | 9 replies
Local references are invaluable because those lenders have proven themselves in your market.Work with Reputable Companies: Some well-known DSCR lenders with a solid reputation include Lima One Capital, LendingOne, Kiavi, RCN Capital, Visio Lending, and Easy Street Capital.
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17 January 2025 | 19 replies
I have spreadsheets filled with material lists for every phase of the build that includes pricing for materials as well as labor, and sources that I use for them.