Tiamo Wright
Why is Zillow so bad?
21 January 2025 | 5 replies
There is no one with experience in actual real estate high up in the company, which is the problem with most tech companies masquerading as real estate companies (including brokerages).Let me know if you want to know even more. :)
Isaiah Cortez
Exploring the Ft. Lauderdale STR Market
21 January 2025 | 4 replies
It can be used to monitor markets, filter results based on lots of different criteria & even includes annual revenue numbers that you can work backwards to see how certain markets/properties are performing.
Denise Evans
Tenant Estoppel Letters
27 January 2025 | 1 reply
If I represent buyers, I like to include my name and contact information along with a sentence that if anything changes after the signing but before the sale, the tenant is obligated to notify me in writing or it waives any of those changes.Buyers might have other tenant concerns that are specific to a property.
Aaron Raffaelli
DSCR Loan for a first time REI
19 January 2025 | 18 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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%.
Jacob Riddle
Hey everyone!! im new and READY. located in flint
26 January 2025 | 5 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.
Michael Plaks
EXPLAINED: sending 1099s to contractors and vendors
15 January 2025 | 13 replies
Upon "googling" I see where some folks include Debit Cards as not having to send 1099's, but I want to be certain.A lot of contractors lump their labor and materials together.
James E.
Real Estate professional logbook example
31 January 2025 | 238 replies
Just because some fellow investor includes it on her or his log, does not mean it flies - unless this investor was audited and won.
Maxwell Silva
How do I market myself as a new agent?
25 January 2025 | 26 replies
It should include the following First and last nameEmail addressPhone numbersocial media handlesNotesIn your notes section you will want to write in things like what the potential client is interested in, first and last time you corresponded with them and how you met them.
Ben Hedvat
Single-family residence fix & flip Hamptons NY
16 January 2025 | 0 replies
This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?