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14 February 2025 | 37 replies
I would shoot a DM to learn more about your micro hotels- projects.
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27 January 2025 | 3 replies
-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate?
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17 January 2025 | 3 replies
Although we do have our own money in every project we do, we rely heavily on our network of Private Lender's.
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28 January 2025 | 6 replies
I think a better option is to get a job in property management.
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30 January 2025 | 56 replies
Do you assist with rental management in the 53206 zip code maybe around 16th /North?
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18 January 2025 | 7 replies
JobsOhio projects that, indirectly, approximately 4,500 additional jobs will be created by 2035, further amplifying this effect.Implications for Real Estate DemandThe substantial increase in the workforce will drive demand for both rental and owner-occupied housing.
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15 January 2025 | 10 replies
Currently I work as a Project Supervisor, we do rehab in multi-family units.
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27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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27 January 2025 | 2 replies
Until then, I'll be trying to absorb everything I can to fine tune my approach and prepare for managing REI business post-acquisition.