Elvon Bowman
First time acquisition
16 January 2025 | 12 replies
At the end of the day, 99% of sellers and brokers only care about your surety to close (I leave out 1% that might care about HOW you operate your deals, regardless of price paid).The fact that you have never closed a large transaction AND are not providing all your proof of funds up front and/or talking with brokers about where the money is coming from, will give them some trepidation.
Leon George
New to BP Community
21 January 2025 | 12 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.
Mike Silva
Recessed Lighting with Horse Hair Plaster
14 January 2025 | 2 replies
I have never lost a deal because a property didn’t have recessed lights.
Joshua Houchins
Accounting Software?
9 January 2025 | 16 replies
I then would have my tax cpa enter in or do it after discussing tax based items (depreciation- MACRS, reserves, year end accruals, reserves, etc.).
Najeh Davenport
Need Advice on Appraisal Issues and Refinancing Options
15 January 2025 | 12 replies
The request was quietly dropped, but Taylor never acknowledged her error or apologized.
Laura Yelin
Sherman, TX market
15 January 2025 | 7 replies
@Laura YelinI’ve never been, but when considering new markets I usually just fly there and spend a few days there scoping it out.
Alba Cheung
tenant has not paid for 4 months and this's what happening now.....
15 January 2025 | 15 replies
U will never get a dime of rent and you are going to have to probably do as you stated find your own attorney.. its better to leave property vacant than to rent to folks that have terrible credit.
Caitlyn Drapeau
Best skip tracing services?
18 January 2025 | 15 replies
Thank you so much :) @Caitlyn Drapeau What service did you end up using?
Marc Shin
How to market to ideal guests or Avatar during the dead of winter
2 January 2025 | 12 replies
I would never let a client purchase in certain areas of my local market....
Doug Wade
Best STR books to read!
30 December 2024 | 16 replies
They were never particularly nice, beach cabins on stilts with rattan furniture that usually had water stains from wet suits.