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4 October 2024 | 14 replies
I was not expecting the free version to cover so much.
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1 October 2024 | 13 replies
Now, you have an appreciated first rental that’s hopefully generating cash flow, and a multi unit that provides a roof over your head and 1-3 units paying down your mortgage while all units continue to appreciate.
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1 October 2024 | 2 replies
Exterior didn’t need much – sharp new accent color for exterior doors, and other aesthetic enhancements, plus some upgrades on roof flashing and weatherproofing.We discovered that the ground level water intrusion was because a huge crack in a sloping sidewalk next to the building was funneling all the stormwater right over the sill, into the onsite-manager’s unit.
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2 October 2024 | 9 replies
I would probably ask for 1 or 2-month minimum rental.Has anyone already had experience on Furnished Finder, or done anything similar (and if it's already been covered a million times, apologies)?
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2 October 2024 | 8 replies
For example, if average use is $150 per month, tell the tenant you will cover up to $200 per month and anything above that will be billed to them.
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26 September 2024 | 4 replies
How to know when is time to replace the roof.
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2 October 2024 | 6 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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2 October 2024 | 9 replies
I’m moving out of the house soon and will be living rent-free with my wife at my parents' place in the Bay Area due to some recent life changes.Here’s a breakdown of my situation:Location: Sacramento, CA (4 bed, 2 bath, recently renovated)Current mortgage payment: $3,940/month (including escrow)Mortgage balance: $475,000Current home value: $515,000 - $535,000 (based on comps)Rental estimate: Property management companies are quoting $2,600/month (with fridge/washer/dryer included), but some websites suggest it could go for up to $3,000/month.Planned budget:$540/month for capital expenditures and maintenance$100/month for lawn careTenant to cover utilities (gas, electricity, water)7.5% vacancy rateWe bought the house thinking it would be our forever home, but with our current situation, I’m trying to figure out the best long-term plan.
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3 October 2024 | 4 replies
This would increase the property’s value to about $608,000, and you could look at an 80% loan-to-value refinance, which should give you enough to cover most, if not all, of the remaining balance.This structure allows you to minimize upfront costs and take advantage of property appreciation over time.
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3 October 2024 | 12 replies
Even if your tenant isn't covering your entire mortgage or rent...that's still money youre not spending on bills right?