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14 March 2024 | 9 replies
Quote from @Kelly O'Keefe: Hey Weronika, There is also a section of BiggerPockets that lists tax professionals here: https://www.biggerpockets.com/blog/tax-partnersAs others have said, there is tons of help available on the forums as well.That link is broken.
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16 March 2024 | 10 replies
If I factor in additional $5,000 in upgrades it still hits a 30%+ CoC return....It certainly is not a grand slam, but for the extremely low barrier of entry, it seems like a solid base hit.
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14 March 2024 | 3 replies
You will need to supply 2-3 quotes from different General Contractor's or licensed builder for all work.Some things that can occur are builder/vendor issues with lack of inventory, broken material, employee "no shows", date of completed work extensions, bad work, additional costs not factored on blue prints or cost analysis, delayed permits.Keep in mind any delays or issues will slow down your clear to close/funding date.
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15 March 2024 | 117 replies
If the property contains a residential structure, the former must also pay the value of "preservation improvements" made by the investor, but not additions or upgrades.
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15 March 2024 | 7 replies
Then it will receive feedback from data such as click-through rates and booking rates to determine if it is a top property.With this I suggest that you take time during the slow season to scout your competition and upgrade amenities and photos to put your best foot forward.Obviously not everyone has the luxury to do this, but it will give your listing the best chance to take its place among the top results for your sub-market.Others may have valid opinions to the contrary, and I suggest you consider what you know about your market.
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14 March 2024 | 2 replies
That trend stopped after the 70's but manufactured housing was a major contributor towards creating stable affordable housing.If we want to tackle our housing shortage we need to get serious about it.Here is a quick summary of the HUD changes: HUD Actions for Manufactured Homes and Communities:HUD announces a comprehensive set of actions to increase availability and affordability of manufactured homes.These actions are part of the Biden-Harris Administration's Housing Supply Action Plan.Manufactured housing is a key component in the strategy to boost housing supply and reduce costs.Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program:HUD launches the PRICE Program, a $225 million competitive grant opportunity.The program aims to preserve and revitalize manufactured housing and communities.Funding supports repairs, rehabilitation, replacement of units, infrastructure upgrades, and community resilience.Available to states, local jurisdictions, tribes, nonprofits, community development finance institutions, and other eligible entities.FHA Draft Policy for Manufactured Home Communities:FHA posts a draft policy to solicit public feedback.The policy aims to promote stability and affordability for individuals and families in existing manufactured home communities.Allows resident-owned cooperatives and mission-oriented borrowers to access FHA-insured financing for purchasing or refinancing.Updates to FHA's Title I Manufactured Home Loan Program:HUD announces updates to FHA's Title I Manufactured Home Loan Program.New methodologies for calculating loan limits to align with current market pricing.Expects the new loan limits to incentivize more lenders to participate and expand program usage by buyers of manufactured housing.Annual Recalculation of Title I Loan Program Limits:FHA will recalculate Title I loan limits annually to keep pace with home price changes over time.This ensures that the loan limits remain aligned with market conditions.Ginnie Mae's Title I Loan Securitization Program:Ginnie Mae takes steps to reinvigorate its Title I Loan Securitization program.Revisions to financial eligibility requirements for Title I Issuers to reduce barriers and increase lender participation.HUD's Ongoing Support for Manufactured Housing:These actions build on HUD's continuous efforts to support manufactured housing.Earlier actions include a proposed rule for the Community Development Block Grant (CDBG) program emphasizing the needs of manufactured housing communities.Recent Updates to CDBG Notice:HUD updated the CDBG in Support of Housing Activities notice to allow the use of funds for acquisition of manufactured housing units, services to homeowners, and investments in infrastructure and resilience for manufactured housing communities.
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14 March 2024 | 6 replies
Recently upgrading my primary housing.
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15 March 2024 | 37 replies
As far as the other issues that you already resolved, maybe they needed to be repaired but for the most part you're upgrading your apartment and they are paying the rent; so why does it matter....
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14 March 2024 | 6 replies
Have you really broken down how that 3% is?
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15 March 2024 | 17 replies
I ran a AVM on it comes to $166000 which won't account for anything special upgrades. $123500 isn't going to get all you invested back, and there will surely be a prepay penalty as lenders think you will continue to try and sell.