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5 February 2025 | 8 replies
Get it under agreement for less than asking price and offer to bring the loan current and have them carry that loan.The way I see it is they are just getting MLS properties under agreement - the last five I looked at had been sitting on the market for more than 150 days (overpriced) because the payoff of the loan would not be satisfied at lower price point.
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14 January 2025 | 4 replies
Cheap houses in lower class neighborhoods will get you cash flow with a lot of headache.
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30 January 2025 | 21 replies
One of those options is to let the tenant know you won't renew their lease, then offer them the opportunity to leave early if they find another rental.
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6 February 2025 | 34 replies
It is a great site, but can be a bit daunting especially as you go down the rabbit holes of all the different options.
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1 February 2025 | 7 replies
Typically lenders will use the total rent being collect or the market rent given on your appraisal, which ever is lower.
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18 January 2025 | 15 replies
There are several options for skip tracing to find phone numbers and email addresses.
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31 January 2025 | 11 replies
Many states have discounted property taxes and lower yearly increases for owner occupied properties.
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4 February 2025 | 24 replies
Some of the manufactured home companies have a modular home option, I know Clayton does.
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31 January 2025 | 11 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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18 January 2025 | 36 replies
She's also likely to be causing your tenant in the lower unit to have a higher heating bill.