
26 November 2024 | 44 replies
The folks cheerleading that it’s easy or typically the folks that haven’t done much of it themselves.. hopefully that’s a little clearer. just need to do robust SEO or so thats what I have heard.. all our deals come from Networking ..

25 November 2024 | 11 replies
Typically the broker will have a leasing agent that does leasing mostly.

23 November 2024 | 38 replies
Here's some other copy & paste advice you might find useful:---------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
26 November 2024 | 7 replies
This can be a city or neighborhood.We manage a lot of Class C properties in the City of Detroit, so previous evictions are common.We typically do NOT allow within the last 3 years and we want to see stable employment, income and no other major credit issues since.For Class B rental we're looking for no evictions in last 5 years.Class A, would be at least 7 years.Of course, there are exceptions to all of the above for extenuating circumstances the applicant is willing to provide acceptable documentation for.

25 November 2024 | 6 replies
Delays are typically caused by previous landlords or employers who don't respond to our requests for verification.

25 November 2024 | 8 replies
One month is rather typical, and if they renew, they typically get a bonus for the renewal.Gino

27 November 2024 | 10 replies
Single family homes typically sell faster during spring/summer months whereas they can sit longer during the winter months.

25 November 2024 | 2 replies
What are your typical rates for 3/2 or 3/1 homes?

22 November 2024 | 11 replies
Not essential but I've used it for other things and it's really cool when you are building out a new process, design, or work flow with your team as well.

26 November 2024 | 5 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.