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4 January 2025 | 12 replies
@Nitesh Chand Does your lease agreement with these tenants include verbiage for if you sell?
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8 January 2025 | 22 replies
Future deals should include a 10-15% buffer for unexpected rehab costs.- You should consider some other lenders.
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8 January 2025 | 2 replies
With inventory expanding, it feels like there could be opportunities to secure deals, especially if the right cash flow potential is there.
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31 December 2024 | 22 replies
FINCEN will administer this.Who is Included?
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27 December 2024 | 4 replies
Your calculations should include utililies and repairs, legals, snow removal, etc.
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29 January 2025 | 9 replies
.- extra storage space so tenants don't feel the need to squeeze their entire lives into one room (extra garage space, attic, detached shed)- room for 2 full refrigerators!
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30 December 2024 | 7 replies
Get a feel for it and see if you like it.
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9 January 2025 | 1 reply
If you’re feeling uneasy about the potential headaches, you might consider a local property manager who specializes in room rentals or shared housing.
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9 January 2025 | 10 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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29 January 2025 | 14 replies
You're right in saying it's making me feel uncomfortable asking them to pay (which sounds odd).