
29 October 2024 | 9 replies
The 100 hours rule can be satisfied as long as no one else (including contractors) materially participates more than you.

30 October 2024 | 16 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

30 October 2024 | 13 replies
They do have other options that you can add-on, such as electronic inspection reports, mailing services and e-lease (this one is included if you're a Pro member which I am not) but I haven't found the need for any of those services yet.

31 October 2024 | 12 replies
I would say today 40-50% of your income goes towards normal operating expenses. 50% if you want to include replacement reserves which you should.

28 October 2024 | 2 replies
I'm looking seriously at expanding my REI business include buying, fixing and flipping REO properties!

30 October 2024 | 12 replies
I worked with Scott who has always been immediately responsive and willing to assist with whatever I needed including introductions to lenders, insurance providers, local agents/brokers, tax specialists, etc.

31 October 2024 | 17 replies
Build a strong local team in each market, including real estate agents, property management professionals, contractors, and lenders.

30 October 2024 | 11 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

28 October 2024 | 15 replies
the sale of the design includes CAD files making it easy to implement changes.

30 October 2024 | 13 replies
To me, my family is everything and building something I can not only include my family on, but pass down all of my hard work....I can't explain how much that means to meThanks Samuel