
1 January 2025 | 6 replies
Start sending the proper notice allowed by law.

12 January 2025 | 17 replies
Off course the rates were hiked 2 times since the post.

12 January 2025 | 1 reply
Just saw your post.

21 January 2025 | 20 replies
You wouldn't be competitive with the price you stated in your post.

13 January 2025 | 1 reply
Hi everyone, first ever post on BiggerPockets!

13 January 2025 | 17 replies
This puts the current market rents of $885–$925 per unit well within the affordable range, with room for modest increases post-renovation.I’ve also reviewed competing properties in the area; apartments seem to be listed between 975 -1000, and houses are listed between 1300-1900.

8 January 2025 | 10 replies
Our life is complicated and I work a complicated stressful job, but if we’re being honest, I also don’t have time for renters, but I somehow make it work and I personally think it pays off.Mtg: 1800Rent: 2900Owe: 200Rate: 4.5 I thinkSell Price: est. 450-460No other rentals except an in law suite on our current primaryFuture goals: would love to use this properly to buy other properties to get out of the corporate rat race.

13 January 2025 | 9 replies
@Richard L Buchanan what is the point of your post if you're not going to share something we can help you with?

4 January 2025 | 12 replies
You must give proper notice before each showing, you must give the renters the opportunity to buy the house first, and the new owner will have to honor their lease if they intend to stay.

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.