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29 January 2025 | 25 replies
Things they did bad which I wish I had asked more information about:Never involved in the screening of tenantsThey recommended keys for cash by waiving the rent amount buy only collecting fees which they would get not meThe cost to evict is 750-950 yet other companies told me they will include eviction in the priceThe tenant didnt pay in full last month and I was the one calling out to them and asking questions then a few days later I get an email saying something happened with the tenant and they are investigating.You get passed from person to person every week or so.No one told me when the construction was complete and so the house was ready for a week and the post to zillow and other sites was not done.It took them another week to take pictures and then another week to upload it.I was paying 200 dollar a month electric bills while the house was vacant because they left the AC running in the empty property.
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20 January 2025 | 6 replies
There is a not so inexpensive fee - anywhere from 5k to 100k depending on the program and they take a % of each deal.
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20 February 2025 | 51 replies
@Shiloh Lundahl Awesome, thank you ok so having that 10-20k as a buy in is important, to first getting into it.... it helps get those first deals started.... just as an aside : I am also just starting out doing finder's fee methods - with tax foreclosure overages refunds, and assett recovery / state funds refunds... so I think those can help me to get that intial 10-20,000.... it might take me some months, but I think I can get there.... that's my initial plan, at leastAnd if I can get that saved up, then that will help me break into deals....
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12 January 2025 | 8 replies
Naturally, they are your competition and the daily rates need to be taken into account.
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30 January 2025 | 3 replies
Target Low Vacancy RatesChicago neighborhoods like Lakeview and West Town boast low vacancy rates, meaning fewer empty months.
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4 February 2025 | 12 replies
What is the interest rate on your student debt?
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11 February 2025 | 22 replies
The trade-off is higher interest rates and points.
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18 January 2025 | 13 replies
Can easily get a 20% referral fee just for sourcing and handing off that lead.
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13 February 2025 | 22 replies
Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.
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24 January 2025 | 4 replies
Or even just use the FB group where people bring deals for a finders fee, you evaluate and then pay a % to a TC to help close the deal.