Jason Mitchell
New Detroit Rental Investor
8 January 2025 | 9 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.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 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
Katie Miller
If you use a CPA or Tax Professional, how did you find him or her?
19 January 2025 | 119 replies
I'm currently in the market for a Tax Pro that can assist with my relatively basic returns and continue to assist with a tax strategy moving forward.
Fernando Martin-Gullans
Help me use my equity to scale my portfolio
10 January 2025 | 3 replies
Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes.
Tyler Edens
House Hacking Budgeting
20 January 2025 | 4 replies
Can you share some financial numbers related to your house hack?
Jonathan Blanco
Is it worth seeking lenders with $0 lender fees?
25 January 2025 | 12 replies
For the most part, most lenders are going to be relatively close in cost assuming we are talking about a straight forward loan product, we all borrower from the same pool of money to make these loans.
Jeffrey A.
Should I use a HELOC for first my first flip or find other means?
12 January 2025 | 10 replies
Many real estate investors opt for a fix-and-flip loan because they’re relatively easy to obtain: no personal income verification (no DTI requirements), and you can often borrow up to 90% of the purchase price and 100% of the rehab costs.
Michael Klick
2025 and Looking to Invest in Real Estate
21 January 2025 | 7 replies
It gives you access to funds at a relatively low interest rate, and you can repay it as the rental generates income.
Ilir Livadhi
New to the U.S., Experienced Renovator Looking to Start House Flipping
15 January 2025 | 10 replies
Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.
Sophie Sawyer
My experience with Sunrise Capital (Mobile Home Fund)
29 January 2025 | 68 replies
I bet if it were your grandmother or relative in that situation you would think differently.
Katie Hendrickson
Seeking Advice: Selling and Financing a Geodesic Dome in Eureka Springs
12 January 2025 | 1 reply
I have a relative who owns and lives in a dome and she really loves it.