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12 January 2025 | 25 replies
And for any who question how legit my info is on sec8 Payment Standards, here ya-go, the current 2024 rates in this area.
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23 January 2025 | 4 replies
It's mostly Class A properties, a few Class B.You may find the below copy & paste info useful in addressing your question:----------------------------------------------------------------------------------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 property in Class D area to Class A standards, what quality of tenant will you get?
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21 January 2025 | 14 replies
BUT, let’s say for personal reasons you want to “stretch” for faster wealth accumulation.
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21 January 2025 | 10 replies
However, hauling away a truckload of items and cleaning beyond standard expectations could reasonably be charged to the tenant, as it goes beyond normal use.Goodwill Gesture: Since this tenant was great for 5.5 years—paying on time and caring for the property—you might consider waiving part of the cleaning cost as a goodwill gesture.
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30 January 2025 | 8 replies
They build, you do a standard FHA mortgage at closing once the home is completed.
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14 January 2025 | 5 replies
They are grandfathered in, the property was built prior to those standards.
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21 January 2025 | 10 replies
Best way to understand this is research appraisal standards and means.
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21 January 2025 | 10 replies
@Robert Zajac pretty sure BRB charges less than an 8% management fee, so just as @Nathan Gesner states, they are making up for being below the "industry standards" by charging more elsewhere.BE CAREFUL about PMCs that claim they don't charge a markup on maintenance - TIME IS ALWAYS MONEY!
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29 January 2025 | 3 replies
A reasonableness standard is applied to negligence claims and I would argue a property owner who owns real estate in the Poconos and knows the property is left vacant due to the owners decision to lease the property as a short term rental should know that the pipes are more inclined to freeze and therefore should install heat tracing lines or other measure to ensure the plumbing lines do not freeze.
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20 January 2025 | 10 replies
Helping others navigate this unique and impactful business model has been a rewarding part of my journey.Now, I’m looking to scale by incorporating the BRRRR strategy—acquiring undervalued properties, rehabbing them to meet care home standards, and refinancing to reinvest.