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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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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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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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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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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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10 February 2025 | 7 replies
I believe it is limited/restricted in the city of San Diego for low income housing.
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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.
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26 January 2025 | 4 replies
Check and reset them daily to remove the dead ones and reset the traps.Poison is easier and works well, but the mice die somewhere in the house and you may have an odor problem for a week or two.
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1 February 2025 | 3 replies
I saw once where a developer gave the buyer a pass on paying HOA fees till a house was built on a lot.
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16 January 2025 | 0 replies
I prefer to source all my deals off-market, which allows me to find properties with less competition and negotiate directly with motivated sellers.