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11 September 2024 | 20 replies
I advise clients not to solely rely on AirDNA data for performance analysis as there can be some variation based on amenities such as hot tubs, premium decor and design and general operational excellence.
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12 September 2024 | 9 replies
I think your big difference will be in local rental laws which vary by city.
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12 September 2024 | 9 replies
You could still explore mid-term or short-term rentals on one property to increase income without relying solely on it, balancing stability with potential upside.
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13 September 2024 | 20 replies
Each of these markets has its pros and cons, from rising property values to varying regulations on short-term rentals.As for financing, beyond traditional mortgages, you could explore DSCR loans (especially useful for rental properties), private lending, and even seller financing.
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10 September 2024 | 1 reply
So that I find out doing my own calls to find out why the offers was denied even was just so close from asking price and Im willing to go with second offer, I found out that the place has reserve litigation issue and my agent who I rely on and keep emphasizing how we need to work smart dropped the ball again on me and didn't due enough diligence even he claims he knows how to do property searches etc etc which made me feel its an extra that he has, it was very sample to just ask the listing agent so not to waste my time neither his sending unnecessary contracts...
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12 September 2024 | 6 replies
Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.
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11 September 2024 | 10 replies
Depends on the area of the country, due to varying wages, and how dirty it is.
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12 September 2024 | 29 replies
There are many attractive markets in Missouri but they can vary wildly from one another.
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12 September 2024 | 14 replies
You can expand your network in this manner, which will lead to conversations with people of varying backgrounds, who may need your help.
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10 September 2024 | 0 replies
I realized that I was slowly turning into a "Cash Buyer Employee," relying on a few cash buyers to take my deals—mostly due to speed and the certainty of them closing.