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19 February 2025 | 32 replies
Do I lean 100% on the property manager to find renters?
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10 February 2025 | 10 replies
Try interviewing at least three managers.1.
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21 January 2025 | 1 reply
Does anyone have a real estate attorney recommendation to review a property management lease?
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22 February 2025 | 6 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.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 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
19 January 2025 | 1 reply
In the process of analyzing deals, I reached out a property manager for his fees.
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20 February 2025 | 7 replies
Would love to connect with any other investors, agents, or property managers in this area.
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17 February 2025 | 21 replies
And is it pretty easy to manage or no?
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16 February 2025 | 9 replies
Hopefully we will be managing a handful of other STRs in the same market in the future.
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21 February 2025 | 8 replies
I relied on a property manager who ended up really messing me up.
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21 February 2025 | 10 replies
It's a free country, you can run your business how you see fit:)That doesn't really work for self-managing property owners or what investors want from the PMCs they hire.So, yes we find solid contractors at Home Depots on Saturday mornings.When's the last time you've been at a Home Depot during that time period?