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11 January 2025 | 0 replies
Census Bureau, Texas added just under 563,000 new residents between July 1, 2023, and July 1, 2024.Florida came in second, adding 467,000 new residents over the 12-month period, and California came in third, adding 233,000.
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20 January 2025 | 8 replies
For families, amenities like a crib or high chair can make your property stand out.Tracking Booking Impact: When adding a new amenity, I monitor changes in my booking volume, nightly rate, and overall revenue over a 2–3 month period.
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10 January 2025 | 6 replies
So before I transfer ownership back and start a seasoning period, I thought I would ask if there were any solutions I am not finding.
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12 January 2025 | 8 replies
This isn't 2011-2013 days but many people are stuck in that time period STILL.As I finish my licensing study, I'm very grateful I chose this route as opposed to being a one trick pony.Wholesalers did themselves in by their method of operating.
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14 January 2025 | 23 replies
Also, I believe I saw somewhere that the mortgage won't count against the original owners DTI after a period of time if they show someone else is paying the mortgage.
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19 February 2025 | 57 replies
There are some vets to the site that also happen to be an agent or PM that are the exception, but it is just an interesting and expected observation.Do what you want, but if you can't go there regularly at first and then periodically after you own it, it's a bad idea.
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29 January 2025 | 107 replies
Those things can and will hurt your monthly KPIs occasionally and sometimes for long periods.
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9 January 2025 | 2 replies
But. that short of a hold period would be suspect by itself if ever audited.
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13 January 2025 | 30 replies
Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase.
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20 January 2025 | 14 replies
Once you've identified what's important and what ratios to look for to evaluate a property, all future deals should be weighted against those "good" ratios/numbers - and periodically adjust to suit your goals.