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10 September 2024 | 3 replies
However, if it's only an extra $100 per month insurance savings I would not worry about it.
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11 September 2024 | 69 replies
So I just saw this post about Section 8 HUD tenants, and this post stated something along the lines of section 8 tenants being more likely to damage properties because they're section 8 low income tenants, and also something about investors not wanting to put money needed into Section 8 properties because they think they're just going to be ruined by these Section 8 tenants, and as someone who knows the entire process with investors, owners, contractors, tenants, and prospective tenants, this is what I have to say about it:In my experience, Section 8 HUD tenants are actually better custodians of the property because of many factors, but 3 of the main reasons being, there is an annual HUD inspection that is performed on each property, so this gives the owner an extra 'protection vector' against damages, also, the initial placement of a Section 8 HUD tenant requires a passing HUD inspection, therefore there's a record of the property's initial state prior to move in, and additionally, they want to have an easy renewal voucher process annually, and their unit remaining in good condition is an incentive for those reasons, therefore they are LESS likely to damage a property - their future depends on it!
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9 September 2024 | 5 replies
The sq ft price also doesn't matter because a 1500sq ft 3/1 and a 1000sq ft 3/1 will have roughly the same kitchen cost and the extra 500 sq ft is generally the cheapest part of the rehab with paint and flooring
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11 September 2024 | 13 replies
So it's really a bad deal for $50 or $100 extra you are risking to loose thousands.Similar with renewals, while we do stick to annual increases, we keep existing leases a little below fair market.
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10 September 2024 | 7 replies
On a 5% cap building, every extra dollar of NOI equals $20 in value, so you should squeeze out as much as you possible can.
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10 September 2024 | 1 reply
An extra bedroom can add $20,000 to $50,000 to your home's value, depending on your local market.
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15 September 2024 | 61 replies
Tell the tenant you will allow them to break the lease at no extra cost to them and be out September 30th.
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11 September 2024 | 20 replies
I will also convert the extra 2 kitchens to wetbars/kitchenettes and fully remove 220 plugs for stoves.
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13 September 2024 | 20 replies
When my mindset changed from having an emergency fund to having an opportunity fund with extra savings or credit lines, it was a breakthrough.
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9 September 2024 | 7 replies
They come with fantastic insulation between the floors, extra parking on the side with a separate entrance, their own laundry, and plenty of bedrooms up & down.