4 January 2025 | 5 replies
Start by going to www.narpm.org to search their directory of managers.
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28 January 2025 | 12 replies
As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants.
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23 January 2025 | 10 replies
Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.
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23 January 2025 | 4 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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4 January 2025 | 8 replies
When you say a live revenue manager, what do you mean by that?
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21 January 2025 | 3 replies
CT is 1-2 hour drive from my location depending on the town and is manageable for one project.
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8 February 2025 | 22 replies
The other tenants would call the management company on Saturday to report the air conditioning failure and were told that a service person would fix the problem on Monday.
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27 January 2025 | 15 replies
If you have no facts, then yes an appraisal can be your ticket, but also keep in mind how your state manages assessed values.
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21 January 2025 | 2 replies
The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.
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23 January 2025 | 3 replies
I have two options 6.625% 30 year or 6.15% 15 yearI want to invest aggressively in the near future on more propertiesThe loan is only $110k and the monthly payment for 15 year is $563 and $750I will earn 2-3k a month in gross rental revenueThe property is in a declining population areaRecently rennovated, and all major things were relatively recently improved such as plumbing, the roof, a/c, electric, etc.Will require a lot of management as it is rent by the room so I may switch to a normal rental after 10 yearsI'm trying to find what will mathematically net me the most money in the long run.