Sebastien Tinsley
Looking to begin my journey into REI
13 January 2025 | 45 replies
- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)
Zach Howard
New, hungry, eager to start while also patient. Large risk appetite.
10 January 2025 | 17 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
Robert Quiroz
Why are a lot of MFH being sold with rents under market
13 January 2025 | 30 replies
Most of the ones I bought had existing tenants and almost all were paying below market rents and way below market rents.
Scott K.
STR insurance - Proper alternatives?
8 January 2025 | 13 replies
It doesn't cover any loss of income due to your rental being repaired.
Ruben Diaz
HELOAN for hard money reserves
10 January 2025 | 3 replies
I would focus on saving enough money that if I had a deal go bad, then that money I saved was there to cover it.
Mike Sfera
When to get a property manager
16 January 2025 | 26 replies
I would advise you to get pre approved from your lender and make them aware as it will help them understand you are serious!
Susan M.
Problems w/ Allegiancy DST's? Alorica DST in Texas. RE Gain Fund LLC REIT 721.
9 January 2025 | 11 replies
Sounds like they are dumping a bad 1031 property into a REIT and spreading the financial burden upon existing REIT members.
Jake Bute
How to track time in business to accommodate 500+ hours?
9 January 2025 | 7 replies
Consult your tax professional: while podcasts are great, make sure you have an existing relationship with a tax professional you can trust.
Mattin Hosh
Assist in Turnkey
9 January 2025 | 10 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
Ezra Avery
Hello & Thank You
7 January 2025 | 5 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.