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4 December 2024 | 25 replies
Do you know if your PM upcharges on all maintenance repairs?
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5 December 2024 | 34 replies
I have managed these properties from renting to leasing/repairs etc.
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10 December 2024 | 14 replies
One major repair and that's all wiped out (I see people gripe about that all the time)The best use of your money is to find ways to make money from it. i.e.
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30 November 2024 | 12 replies
Labor shortages have hit that industry just like everything else, so finding reliable, trustworthy, quality cleaners is a challenge everyone is facing.
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5 December 2024 | 4 replies
I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.
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6 December 2024 | 5 replies
You can even use a really fine-grit sandpaper.This video demonstrates how she repairs a stainless steel sink and it includes before/after images for comparison at the end.
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4 December 2024 | 32 replies
I can refute your reputation, I can refute you who you fundraise from, I cannot refute a truly quality deal.
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9 December 2024 | 0 replies
For a new construction that the house will last at least 50 years before major repairs, we were pretty happy with the current result.
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8 December 2024 | 21 replies
Hello All,I joined Renatus 4 months ago and it is the best quality education I have ever seen.
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2 December 2024 | 14 replies
What is the best way to find good general contractors (reasonably priced, delivers on time, committed to quality) ?