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1 October 2024 | 29 replies
Some factors affecting costs are: - how small the units are - a 1500 sq ft house will be much more per sq ft vs. a 2500 sq ft house, similar to (10) 1 bed units will be much more per sq ft than (10) 3 bed units because the more you stuff into a smaller box, the cost per foot goes up, and you still have the same costs of a kitchen, hvac, foundation, etc. but you're spreading those same costs across much less square footage.
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3 October 2024 | 15 replies
Consider factors of what the property will need though if needs work (account for that, do an inspection, have contractors give you a bid on what all could or needs to be done).
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30 September 2024 | 10 replies
It sounds like you've already invested a lot in rentals, about $14,000 when you factor in your upcoming projects.
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1 October 2024 | 12 replies
What I also recommend is also factoring in soft expenses that you are budgeting for but have not yet spent.
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2 October 2024 | 9 replies
This is also impacted by how old your home is, so that was likely a factor for me.From what I can gather, it's best to increase my personal liability for now and require the tenant to get renter's insurance to secure their own belongings.
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30 September 2024 | 10 replies
Most your leads are going to be investors who want a steep discount anyways and they may factor in the savings in commissions (meaning you technically aren't paying but it is still factored into the price).
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1 October 2024 | 16 replies
With rehabs you can get to significantly lower purchase prices and typically the lender will just be looking for a100k+ ARV so that you can refinance out of the loan once rehab is completed (100k as-is value is pretty standard for DSCR loans).With rehabs experience is the biggest factor to LTV and rate so partnering up with someone for the first one or first 3 will get you significantly better terms (working in the same area can also provide benefits in terms of LTV).
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30 September 2024 | 8 replies
@Karl Kauper going to guess your current PMC:1) Is having too many tenant nonpayment issues for your likingAnd/or2) Refusing to share their background checks with you, so you can make your own approval decisions to address #1 above.Several factors may be at play here that you may want to consider before being trigger-happy:1) For several legal and contractual reasons, it's pretty much NOT possible for a PMC to share background checks with an owner. 2) What Class of property do you own?
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29 September 2024 | 18 replies
what you consider the most important factors to look at."
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1 October 2024 | 6 replies
There are many other factors that go into the cost of building especially in CA.