That alone was the biggest improvement for my business practices and allowed me to take all of my bookkeeping in-house and eliminate the expense I was shelling out for a bookkeeper.

You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use. 

However, after renovations, the numbers improve significantly, and the challenge lies in bridging the gap between current and future performance.Expenses typically run at a 30-50% expense ratio for mobile home parks, depending on management and infrastructure conditions.

Don’t forget heloc, DSCR, 2nd on primary, borrow from retirement accounts, credit card cash advance, property reserves, home improvement store credit, etc etc.

pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

We invested $55,000 in key renovations, focusing on modernizing the interiors, improving curb appeal, and ensuring the property met market expectations.

What drew me to Detroit initially was the potential for strong cash flow, but I’ve also seen appreciation in several of my properties as the city continues to improve.

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

Centralize your back office / use remote employees / VA where appropriate to cut costs and improve service levels / responsiveness.  5.

It will help you adjust your pricing to improve your vacancy rate. 8.