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12 September 2024 | 6 replies
Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.
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10 September 2024 | 10 replies
You should take advantage of the personal residence tax benefits.
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11 September 2024 | 3 replies
These options would still keep your costs down while offering practical benefits that could attract a larger demographic of renters.Starting with one of these simpler conversions also gives you the flexibility to explore more ambitious plans down the road once you have a better understanding of the property's potential and your own budget constraints.Hope this helps clarify the options.
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10 September 2024 | 7 replies
Flic and Flips don’t typically qualify for 1031 exchange tax benefits.
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13 September 2024 | 35 replies
We’ve recently launched a new funding program with preferred terms and would love to discuss how it could benefit you.
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12 September 2024 | 9 replies
This is what me and my team specialize in.The benefit to this is you're generally forcing some value to create equity.
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10 September 2024 | 0 replies
Ideal for Scaling Your Real Estate PortfolioOne of the biggest benefits of DSCR loans is the ability to scale your real estate investments.
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11 September 2024 | 6 replies
If it is performing well, the buyer pays fair market value for the home and enjoys the benefit of some future income with rentals you already have booked.
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12 September 2024 | 23 replies
The issue is advertising revenue and face time. it’s not in an advertising model benefit to limit in mass posts.
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10 September 2024 | 23 replies
Anyone who is actively marketing and doing deals can benefit from a CRM system.