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14 September 2024 | 12 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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12 September 2024 | 15 replies
When we underwrite our F&F's, the guidelines are in place to make sure you have a healthy profit margin so if we see anything glaring that should be re-considered we can walk through that in order to make sure everything make sense before proceeding.
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11 September 2024 | 20 replies
That's a good example of a 'healthy' mortgage market albeit fairly astonishing that banks would consider the revenue data accurate and consistent enough to lend on.
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18 September 2024 | 67 replies
Question: are there other property managers that take the all-encompassing/OneRate approach, but are much better to work with?
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16 September 2024 | 28 replies
I am not sure about this approach.
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13 September 2024 | 20 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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13 September 2024 | 7 replies
So, as an example, if you look today and you see that various sources lead you to believe that you can rent it for $1500/ month, that number can change quickly in a week (let alone 3 months) based on other factors in your local area - such as a similar property suddenly gets put on the market for rent.In addition, there are different ways to approach your rental amount.
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20 September 2024 | 73 replies
I think the business has changed and there is pushback against the traditional commission structure, and I think that's healthy.
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11 September 2024 | 8 replies
Have you ever encountered unexpected repair issues during a flip, and what was your approach to resolving them?
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14 September 2024 | 19 replies
As I just closed a triplex and want to consider the best approach when sending my Introduction letter.