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20 January 2025 | 4 replies
I am considering doing this with a 0% APR credit card to avoid a loan.
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22 January 2025 | 4 replies
The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.7.
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19 January 2025 | 1 reply
However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.
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23 January 2025 | 4 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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23 January 2025 | 15 replies
That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.
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4 February 2025 | 3 replies
And here is where I actually got properly annoyed.
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19 January 2025 | 21 replies
The best advice I can give you for studying for you license is to voice record yourself reading questions and answers on notes cards.
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21 January 2025 | 6 replies
Trying to balance proper due diligence against my desire to just acquire a bunch of mediocre units!
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4 February 2025 | 9 replies
If transferring the property to an LLC, be mindful of the due-on-sale clause, and note that an LLC itself does not offer tax savings unless electing S-Corp status, which is rare for rentals.To maximize tax benefits, consider cost segregation, bonus depreciation, and short-term rental (STR) strategies, which could allow you to offset W-2 income if structured properly.
8 February 2025 | 89 replies
And his direct employees are allowed to sell these notes if they were registered and disclosed properly..