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5 August 2024 | 21 replies
Sorry to hear this.I would always say that "There is nothing wrong with any property as long as the price is right".Granted, some are not salvageable and the deal doesn't make sense even if the seller paid to me to take it lolOver the past 10 years I have witnessed many investors trying to do the same thing as you.Purchase from afar without buying turnkey and trying to do it themselves.This has been popular especially the last few years.Not many succeed unfortunately or they don't succeed in my eyes as they are into deals for much more than what they should be.There is a big trend going on where folks are made to "feel involved" with the purchase, rehab and property management process.The properties look great and off-course they do as rehabs cost $40,000 - $50,000.It doesn't sound like a lot of money for folks from CA and NY but for our local standards it is and IMO kills the cashflow and is unnecessary overcapitalization.Each to their own I guess.Just had a call the other week with a fellow from CA that bought a few turd properties from a local scam artist and is flying to town to try and rehab them himself.Another fella I managed to save even tho he lost his deposit of $1,000 as the seller (Another known scam artist) made him commit to the deal without allowing an inspection or even a walkthrough...If that isn't a red flag then I don't know what is 🤷♂️Hat's off to you for flying into to town to see the property for yourself.Wishing you much success
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5 August 2024 | 12 replies
I own an interior design and full home renovation business.
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8 August 2024 | 22 replies
“Maybe [Meta] should have had a policy against any sort of promotions like that,” says Jeff Smith, a former Facebook product designer who says he lost more than $50,000.
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5 August 2024 | 16 replies
I like the pricing suggestion from @Jon Martin , as well as the budget design tips, I do think they help.3.
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1 August 2024 | 4 replies
Interesting graph from CoreLogic. What is the story in your market? A recent study I completed for a segment in Clarksville, TN showed YoY rent growth of 5.42%!
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4 August 2024 | 10 replies
Looking at AirDNA results, my biggest concern is occupancy rates, most of the calendars I look at have large gaps in them, and when you spend close to $500/sq. ft at current prices (in STR-designated areas), your property needs to rent well above 80% or you charge crazy nightly rates.We've also seen very few property management companies that charge less than 25% there (and 25% is rare), and some STR neighborhoods require you to use their designated PM (Desert Colors only allows Red Rock, and they are at 40% commissions - ouch!).
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6 August 2024 | 29 replies
So they would be very hard to find them or have them work for you. expecting residential real estate agents to be experts at income producing properties is not realistic and not advised.. if your looking for investment property you should only be dealing with investment brokers .. there are designations for them or resi agents with the investment designation..
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5 August 2024 | 9 replies
Its API-based design integrates with existing loan origination systems and scales to accommodate growing portfolios.
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2 August 2024 | 27 replies
But it's hard because if you get to personal, stylish, "on trend" you can alienate a group of buyers.
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4 August 2024 | 13 replies
My fiancé is an interior designer and her friend from Las Vegas just bought an STR they hired her to furnish this summer.