Melanie Baldridge
Did you know this about Gas Stations?
14 January 2025 | 2 replies
The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.
Hudson Filippi
Using FHA Construction to House Hack?
17 January 2025 | 7 replies
@Jonathan Klemm thank you for including me!
Kyle Cross
Is investing with family inheritance a good idea?
6 January 2025 | 8 replies
Focus on optimizing the current fourplexes (improving rents, reducing expenses).
Suzanne Chan
A&M Courtyard Apartments
17 January 2025 | 2 replies
Amenities include, laundry, assigned parking, and wifi available for each unit.
Michael Challenger
First Time Home Flipper Looking to Connect w Lenders
10 January 2025 | 12 replies
We have a single flat fee of $1,500 for all of our fees, including the appraisal/valuation.
Account Closed
Will a seller financed deal show up on buyers credit or considered on debt to income?
14 January 2025 | 7 replies
It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?
Drew Sygit
New Michigan Law: Landlords Can't Discriminate on Tenant Income Source
14 January 2025 | 10 replies
Also many other Counties in non-covered States also include it.
Shakthi Kamal
Is a min of 2% rent to price ratio needed for positive cashflow in today's market?
6 January 2025 | 2 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.
Vincent Plant
Hard Money Costs Too Much?
13 January 2025 | 15 replies
He said that typically in flip deals its around 30-40% down but if construction was included it would be about 30%.
Jonathan Small
Should I Partner with a Successful Wholesaler in a New Market? Seeking Advice
17 January 2025 | 4 replies
I’ve been thinking about partnering with a successful wholesaler and seeing if they will expand their operation to include the zip codes I am interested in.Example: I would like to partner and give money to a successful Detroit or Texas wholesaler and see if they are willing to add my Georgia target market to their operations.Before moving forward, I wanted to get some feedback and advice from those who are wholesalers or who have partnered with wholesalers.Has anyone ever heard or have experience in a partnership like this?