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11 October 2024 | 56 replies
You do not need to go that extreme, and as I get older I'm understanding more and more of the value of balance.
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8 October 2024 | 12 replies
That seems fair because they probably balance out to somewhere around $30-$40 an hour, which is a good wage for cleaning.If they don't like that, convert to paying them an hourly rate based on your market and pay them for the time required.
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9 October 2024 | 9 replies
In addition, targeted searches for "apartments 77008" and "greater heights apartments" have lower competition which provides a great opportunity for organic and lower cost of acquisition.Household Composition: 77008 shows balanced demand for both family-oriented housing and non-family units, promoting investments in single-family homes and high-quality apartments. 77063 indicates higher demand for rental units and smaller homes, focusing on apartments and affordable housing options.Despite higher entry costs and a lower percentage of renter-occupied units, 77008 appears to offer better prospects for appreciation and lower vacancy rates, making it a more suitable choice for investment.Greater Heights OverviewThe Greater Heights area (77008), often referred to as "The Heights," is renowned for its prime location offering a blend of amenities, top-rated schools, and abundant job opportunities.
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9 October 2024 | 10 replies
Lenders will require 5% down and you will need to meet the conforming loan limits (not high balance unfortunately).
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14 October 2024 | 420 replies
I think the bottom line is there are many ways to achieve success in RE.
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7 October 2024 | 4 replies
I found this but I can't understand what the other costs are https://www.narpm.org/members/resources/rent-vs-sell-calculator/SFH current value: $441,000Bought for (2020 new construction): $362,000 (primary residence till Nov 2023)Mortgage balance: $218,000Interest rate: 2.375% for 15-year loan (12 years left)Annual Tax, insurance and HOA: $7,000Current rent: $2950Appreciation: Reached $441K in March 2022 and has stagnated since.
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9 October 2024 | 10 replies
Helocs are great for this because you don't have to make payments until you use the capital and if you don't have a balance you don't pay.
6 October 2024 | 3 replies
That being said I see clients achieving 2x monthly cashflow returns on investments even with 7% mortgages.
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9 October 2024 | 17 replies
Find the balance where land is decent, but rents are high.
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7 October 2024 | 1 reply
Remember, C/D located properties generally appraise once improved for significantly more than they will actually sell in an arms length transaction so you can go to many C/D neighborhoods, successfully complete the BRRRR method but deal with all of the operational difficulties of the asset class and then fail to achieve a sale figure remotely close to the favorable appraisal that allowed for the proceeds to be returned through the refinance.