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19 August 2024 | 9 replies
: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+, 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, 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.
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21 August 2024 | 9 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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20 August 2024 | 14 replies
The roof rafters are falling due to water damage.
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20 August 2024 | 5 replies
A few reasons to replace would be tenant would be paying for heat, lower maintenance costs long term, and no risk of water damage when pipes give out.Good callouts on ceiling but luckily, i dont have any popcorn texturing, thank goodness.
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16 August 2024 | 20 replies
I know in my area of FL 2 miles away from Clearwater Beach a 3/2 non pool home will do $50k-ish and a 3/2 with a pool will do $80k+ and even more if heated.
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20 August 2024 | 1 reply
. ■ Mortgage ( 20% down so no PMI ) ■ HOA■ Electricity ■ Gas ( None because new construction house has electric stove ) (Everything is electric )■ Water Bill ■ Camera Security system ■ internet ■ Lawn Care■ Regular Maintenance □ Will I need to pay for " Trash " ?
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19 August 2024 | 4 replies
Also, how should I go about coming across comps with Pools or an additional building (Morton building)?
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21 August 2024 | 6 replies
If you live near the beach, it would be nice to be able to go in the water.
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22 August 2024 | 29 replies
Lastly, the guest pool for MTRs is very wide and is not just limited to travel nurses.
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19 August 2024 | 22 replies
The water activities are specatular.