People like to use HELOCS especially now, if they have a very low interest rate first position mortgage, in order to tap into that equity without losing the low interest.

To say I am shocked is an understatement.Finally, when I sought out their tax strategy services, I specifically asked in the informational meeting if I wasn't acting a little prematurely, and if I should wait for my partner and I to be married in 2024 before making this investment, i.e. if tax strategizing would pay for itself in 2023 via significant tax refunds.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

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.

You’ve gained valuable experience from your first duplex and are now approaching real estate with a strategic mindset

With no renovations needed, we leveraged strategic pricing and marketing to sell it the same day for $147,000.

Either way, sounds like you’re in a good position.

It doesn't work as well now because it's hard enough to be cash flow positive with prices + rates and where rents are at. 

We’d like to work with a realtor who has experience finding properties like this who knows what to look for and can help us make a strategic purchase.

With $65,000 invested in strategic renovations, we transformed the home by modernizing key areas and enhancing its curb appeal.