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12 January 2025 | 6 replies
For example, you could say, “I’ve noticed the property seems vacant and might require some upkeep.
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30 December 2024 | 10 replies
Requires some pre-planning if the ceiling height exists.
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3 January 2025 | 18 replies
If the owner does not meet that residency requirement, another human being must be identified as the local agent in charge.
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15 January 2025 | 14 replies
As it was said before, you want to be realistic with the time commitment this will require.
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3 January 2025 | 2 replies
In terms of selling a property, parts of Cleveland require a POS (Point of Sale) Inpsection, but I'm not too familiar with what all that entails.
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5 January 2025 | 9 replies
Most states require a RE license and or Broker’s License.
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7 January 2025 | 7 replies
I see Xplorie is popular but they require a minimum of 10 properties for a partnership.
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
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11 January 2025 | 14 replies
Any changes should have required your approval (ie signature).
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8 January 2025 | 29 replies
Interesting, I am an active investor, we also have a team and ask OOS clients almost the opposite: we require them to come to Milwaukee and check out some neighborhoods and houses together in order to make sure we are on the same page.