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27 October 2024 | 15 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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30 October 2024 | 21 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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30 October 2024 | 22 replies
Some section8 vouchers only cover 50% of the rent, while others include 100% + utilities!
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27 October 2024 | 2 replies
So, for example if a tenant was giving you a specific type of issue that was not clearly covered in the rental agreement you simply add it with 30 days notice and then evict for breaching the agreement.
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29 October 2024 | 10 replies
For instance, your rent may be $1000 per month and section 8 may only cover a portion of the rent, let's say $800.
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19 October 2024 | 7 replies
Our insurance did not cover moving the tenants out along with their temporary housing.
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28 October 2024 | 40 replies
There seems to be a glut of STRs in every major market, yet there are RE agents out there telling people that there is demand.There may be demand, but if the owner cannot book their place to cover the costs, how can RE agents be out there telling people that it's a good investment?
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30 October 2024 | 236 replies
No, the topic has been covered ad nauseum.
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26 October 2024 | 5 replies
Since you will have what I assume is an atypical unit mix, you will likely need to look at what different unit size buildings are selling for.I.e. 5x 1/1s are $250k/door. 4x 1/1s are $265k/door and 4x 2/2s are $325k/door, you could assume covering to a 4 unit will value the property at around 1.12mm (3x265 + 1x325)vs 5 one beds being worth 1.25mm.
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29 October 2024 | 19 replies
Roof: 7-8kHVAC: 4-5kWell Filters: $0 -3kStain: 4-5kFurniture (Entire house): 8-10kAppliances (stove/fridge/dishwasher): 3KI think I've covered all the big ones.