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18 February 2025 | 7 replies
Have you explored upgrading the windows and doors as needed?
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22 February 2025 | 6 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.Section 8: Rents are too high for the program and cash paying tenants are better overall.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 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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6 February 2025 | 7 replies
Connecting with experienced investors is a great move as it allows you to learn from others' experiences and opens doors to partnerships, resources, and insights you might not have considered.
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1 February 2025 | 3 replies
I own 12-doors there and help others invest there for a living.Of my 12-doors, 4 of them are comprised of two duplexes.
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15 February 2025 | 2 replies
If you have multiple properties i would recomend having at least 5-10k per door in cash, or in easily accessible funds at least.What are your thoughts?
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23 January 2025 | 6 replies
Steve if you can go without buidling the extra garage below the ADU it will save a lot of money. if you can get two studios it will do much better than one ADU.
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31 January 2025 | 5 replies
If the lease auto-renews to a month-to-month, then you can post a letter on their door (take a pic) or send it by certified mail with a signature required with the new terms starting at the appropriate times based on the lease.
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6 February 2025 | 6 replies
Keep in mind, it would be in your best interest to go for as high as 4 units on each purchase to maximize your door count.
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8 February 2025 | 5 replies
In Indianapolis C to B class neighborhoods I have rarely seen insulation upgraded on rentals especially doubles that have never been owner-occupied. 4th air gaps, poorly fitting windows, and doors can be easily corrected with proper caulk and weatherstripping (usually).
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30 January 2025 | 8 replies
Written policies are necessary when you add employees to aid with training or enforcement of standards.I would focus on adding doors to your management company.