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8 January 2025 | 5 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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15 January 2025 | 144 replies
Yes it costs money for the coaching, but the typical investor would take decades of trial and error of other investing techniques and would probably never arrive a systematic way of approaching investing for cashflow as is created with the income snowball.
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16 January 2025 | 6 replies
He took the new development appreciation approach.
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16 January 2025 | 3 replies
Once you find someone willing to let you shadow them, approach it with professionalism and a willingness to learn.
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16 January 2025 | 3 replies
Let me know how it goes or if you want to brainstorm more on how to approach the seller.
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22 January 2025 | 10 replies
@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.
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23 January 2025 | 15 replies
If this is your approach, you will end up eventually get a bad taste of the lending industry as a whole.
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1 February 2025 | 30 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3170107/small_1736967133-avatar-louish66.jpg?twic=v1/output=image&v=2)
15 January 2025 | 6 replies
This approach might speed up access to funds without waiting for June.
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10 January 2025 | 2 replies
Have you approached the current owner of the car washes to see how much they want in a sale?