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17 December 2024 | 11 replies
Check with a great tax professional!
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29 December 2024 | 30 replies
Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median income is not even in the top 3.
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29 December 2024 | 0 replies
Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000
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30 December 2024 | 2 replies
If there's equity maybe selling and restarting would be ideal unless you can up income/cut down expenses
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14 December 2024 | 2 replies
Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.
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30 December 2024 | 11 replies
Loss of rental income is only covered if it is listed in your policy.
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15 December 2024 | 5 replies
Not how much can this property earn as an Any DSCR lender is going to go to lend off the income approach.
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1 January 2025 | 3 replies
STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.
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7 February 2025 | 13 replies
It was $9,000 after taxes.