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14 January 2025 | 10 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.
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11 January 2025 | 15 replies
we are pretty high that is for sure.
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23 January 2025 | 10 replies
Managing tenants: In my opinion, self-manage is stressful, but if you have the capacity to make it work, I would highly recommend it.
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11 January 2025 | 4 replies
My firend once had a client who did a high end remodel in a somewhat modest neighborhood.
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10 January 2025 | 2 replies
There's obviously opportunity here to build this out and turn it into a basement apartment, which I think would cash flow because of course there's no mortgage.
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13 January 2025 | 31 replies
My W2 works me until the night and doesn't pay me well or high enough.
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16 January 2025 | 26 replies
I'm in New York but the prices (at least downstate) are much too high for me to make my first deal so looking more upstate and out of state.
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13 January 2025 | 25 replies
High risk areas. 3.
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17 January 2025 | 3 replies
If you want to quote out high efficiency boilers for six Tripple deckers for example requiring installation of separate gas, meters etc. etc. - that might be a situation where you would want to work with a contractor directly because you would have lots of different options with widely varying costs.
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12 January 2025 | 6 replies
Also showing almost a 20% CoC return, which in my research I've found to be a highly ideal number for investors.Is there something I could improve on with this report or fix?