
1 August 2024 | 71 replies
If Jesus came back and got into rentals NO, N-O-B-O-D-Y get's admin access into our system. 2) They want a standardized list for maintenance items so they know in advance what repairs would cost.Being a PMc I'd invite them to acquire any of the readily available construction estimating tools/software out there such as RSMeans, but would not take on such a task as building and maintaining such a database, honestly for any $, it's simply not what we do. 3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.A-ok. 4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.I'd be fine with this as long as they sign a waiver that they own any/all negative impacts that result from such including extended vacancy periods, vendor refusals of service necessitating there own self-search to secure amicable vendor etc etc.. 5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $300LMAO!

31 July 2024 | 18 replies
So if you don’t want to spend 12 months completing one deal for a $2,000 gross profit and investing 1500 hours to do it, you’ll need about $50k to carry you until deals start closing.

31 July 2024 | 3 replies
What other items am I missing?

1 August 2024 | 8 replies
Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.

31 July 2024 | 11 replies
This notice stated that a re-inspection would be carried out 12 days from the mailing date and advised contacting the code enforcement officer prior to the inspection date to discuss informal resolution.

1 August 2024 | 4 replies
You'll also need storage space for cleaning supplies, change of linens and towels and small miscellaneous items like a first aid kit, extra batteries, flashlights, broom, vacuum, etc.

2 August 2024 | 19 replies
I need it just often enough to send or receive items from vendors or local govt's to want the convenience of using it from my home, hotel room, or office.

31 July 2024 | 3 replies
.- when a lender is calculating the rental income to use for qualifying income - depriciation is normally a line item that can be added back

1 August 2024 | 10 replies
Upgrading items in an STR can lead to high ROI, because people are paying for an experience and looking to treat themselves, their friends, and family.

1 August 2024 | 12 replies
Anyway carry on lots of markets as I suggest mirror Detroit in pricing.