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12 February 2025 | 23 replies
No issues and tenants are renewing.That indicates tenants were paying below market rates.If the market rate for a 2-bed/1-bath apartment is $1,000 without utilities included, then he should adjust his rate to $1,100 because it includes $100 in utility cost.
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17 January 2025 | 12 replies
do you have issues with the city if there are cars parked on the street or lawn?
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22 January 2025 | 20 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.
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6 February 2025 | 5 replies
Give fair housing testers the right to secretly record your call, trying to trap in a fair housing issue.
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11 February 2025 | 4 replies
She stated "this is your property, so you need to fix the issue within 2 days or were shutting down the house."
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15 January 2025 | 15 replies
No major thought process here very simple..
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11 February 2025 | 183 replies
He told me to show the city the preliminary plans to see if there would be any issues before we move on.
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6 February 2025 | 2 replies
The issue is that you cant cold call people in New York
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12 February 2025 | 14 replies
A major repair can blow your entire budget.
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11 February 2025 | 13 replies
We don't want to bring on every owner or every property unless they fit within our target market, so, I do the far majority of the sales - this is our check and balance.