Vivian Yip
Mid Term Rental Knowledge sharing
10 December 2024 | 10 replies
Software: Stessa for accounting, Deal Check for quick and dirty analysis of potential purchasesMarket positioning: Pet-friendly (fenced-yard, accept dogs and cats), well-designed homes, off-street parking, suburban, full cable TV package (not streaming only)Pricing: Targeting upper-middle market (not budget-conscious guests)So far, so good (since 2020)
Andy S.
Tenant Move in and move out inspections
10 December 2024 | 6 replies
I don't think you need to take a picture of each wall, but of each room and each noteworthy item that was damaged is really helpful.
Derek Buehner
Tax deductions on a remodel for a future STR while living in it.
16 December 2024 | 8 replies
My CPA instructed me to list my repairs as CAPEX or repair items , furnishings were supplies for the rental.
Joel Florek
31 units in 30 months at age 24, $70k Annual Cashflow
9 January 2025 | 116 replies
Later you mentioned after prorations you had to come with 6% cash, what other items on the settlement statement added up to 4% lowered your DP to 6%?
Tonio Pearce
Should I create a baseline template business plan?
23 December 2024 | 9 replies
You don’t need a 50 page llan you will never refer too but a one pager with actionable items is my recommendation
Jeff Brogan
Flippers - WWYD - What Would You Do?
11 December 2024 | 6 replies
If you can hold on till first part of January the showings and everything else should pickup.This would be my action items: 1. hire a new agent that can sell the place, and get you numbers are rent and selling and sell the place. 2. be honest on the numbers you can get on an ARV so that you can sell it 3. start to get the conversation started with a couple lenders on what these numbers on refi would look like for you and this property 4. my suggestion would be to refi/rent before selling at a loss because if numbers work you can hold for a couple years then sell, but this is dependent on your cash position and liquidity of your situation.
Kyle Fitch
Why Real Estate Over Stock Market?
6 January 2025 | 57 replies
Here's why some choose bricks and mortar:Tangible Asset: You own a physical property with potential for appreciation.Leverage: Use debt (mortgages) to magnify your returns (not possible with stocks).Passive Income: Rents provide a steady income stream (dividends are not guaranteed with stocks).
Max Nathan
How do I secure lending on down payment / construction costs
17 December 2024 | 7 replies
We typically estimate standard costs for these items but get them done much cheaper with our own crew.
Jason Tucker
CO Living MTR
13 December 2024 | 17 replies
I have also added line items for common area monetering and additional appliances.
Carl Reza
No clue what to do first!
23 December 2024 | 10 replies
For example, if $100 buys a basket of goods today, in 10 years, with a 5% average inflation rate, you'll need $162 to buy the same items.