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6 January 2025 | 9 replies
The mortgage was also raised due to insurance issues to about $1,950… so I am not making much cash flow, more like a cash trickle.
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10 January 2025 | 12 replies
Not even Balance Sheet.I don't know if they changed their model since the change of subscription plan but it isn't ideal to use it as depreciation or amortization.They do have a balance sheet.
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7 January 2025 | 0 replies
Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.
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5 January 2025 | 9 replies
Leverage technology early and put everything in the cloud, so you can access info wherever you are.Make sure to get properly licensed and obtain E&O Insurance.
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18 February 2025 | 30 replies
I would say sec8 is the pinnacle of requiring great management, systems, planning and methodology.
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17 February 2025 | 40 replies
One of the cool connections I've made is with someone that has over a million subscribers to his YouTube channel that is now working with me to take my channel to the next level.Proverbs 15:22 teaches, "Plans fail for lack of counsel, but with many advisers they succeed."
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12 January 2025 | 25 replies
I flew there and walked the house, looked pretty turnkey rental grade): $1029 GFCI outlets, downspouts and guards, drywall, paint, bathroom vent$4615 (new AC unit since unit was stolen before tenant moved in, didn't file insurance claim because didn't want my premium to go up) $600 (water line, gas line, P trap)$60 lawn mowing$112 thermostat repairMy opinion is that Class C is better for local investors who are on site and know how to do repairs and self manage.
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3 January 2025 | 3 replies
I think it will also depends on state laws and a lot of information not present but the HOA rules and insurances are two different things.
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23 January 2025 | 45 replies
One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.