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23 January 2025 | 7 replies
I have gotten a seller's credit for my 3 existing units but to be conservative, I will assume I am paying full closing costs here.At the moment, I have ~$25k in a HYSA and expect to save another $10k from my W-2 before I start putting offers in.
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12 February 2025 | 6 replies
This is basically a math problem that will depend on both you personal finances & also how much of this is an investment vs you want a nice house to live in4.
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15 February 2025 | 14 replies
Take a house that sold at a low price twice in the past.
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23 January 2025 | 7 replies
As of today, the house rents for $3,400 per month and my PITI is $2,500 per month.
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11 January 2025 | 11 replies
Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.
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3 February 2025 | 26 replies
I have a lender that will do cash out refinances even if no rehab was done on the property, using the higher appraised value the day after you buy a house.
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1 February 2025 | 23 replies
The price point for a positive cash flowing single family house rental is typically 120-180k purchase price here so I am sure you'll be able to scale very quickly here with the capital you're working with.
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29 January 2025 | 12 replies
You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.
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2 January 2025 | 4 replies
It’s a motel/RV park located in a rural market with seller financing on the table.
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28 January 2025 | 15 replies
If you are willing to do the work, the landlord can often be the first point of contact with housing assistance.