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17 December 2024 | 2 replies
The diligence varies by county, but my experience has been that they check very thoroughly.
16 December 2024 | 20 replies
@Gary M caceresDid you check the toilets to make sure one was not constantly running?
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20 December 2024 | 27 replies
Also double check on the ADU size restriction.
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17 December 2024 | 17 replies
I'll check on meetup.com as well, I know sometimes they post meetups on there!
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22 December 2024 | 8 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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20 December 2024 | 4 replies
I ain’t no lawyer (except on the Internet), so will possibly have to resort to checking with the lender (BoA) to confirm as I didn’t see anything in the contract that suggested that it closes if I’m no longer resident.James
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17 December 2024 | 16 replies
Also, was there a background check on the tenants possibly having criminal backgrounds and or background check to determine if the tenants had ever been evicted in the past?
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10 December 2024 | 4 replies
I would like to see how others do it and examples of what they do and how they organize said data.
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9 December 2024 | 12 replies
As stated in this thread, I believe BL does not let you keep your data if you leave the platform which is not good business practice, IMO.
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17 December 2024 | 15 replies
I learned the drywall was cracking in October, but I'm not local to it so I wasn't checking it regularly.