Leon George
New to BP Community
12 January 2025 | 11 replies
Better if the company has a lot of info in writing that you can absorb to minimize this.
Eric Robertson
Investor friendly insurance company
11 January 2025 | 4 replies
Anyone know of one? State Farm just told me I have too many houses and have to move on.
Donald DiBuono
Mobile Home Park Development
12 January 2025 | 12 replies
I did get lot rate for a similar rural park that is about 40 miles away, and they charge $350 per month, which is decent.
Chris Kay
How Far Does $50k Go for Rehab?
15 January 2025 | 14 replies
Which will also depend on the neighborhood.You want to, "rehab/maintain to the Neighborhood".Most investors go overboard on their first rehab and waste a decent amount of money.
Chris C.
Anyone have experience with Elite Funding Group LLC
10 January 2025 | 16 replies
They gave me decent terms on financing the rental and providing rehab funds but it did not make sense with me being so close to finished.
Josue Ramos
Best Markets To Invest
4 January 2025 | 35 replies
For out-of-state investing, find a trustworthy property management company and network with local real estate investor groups.
Brett Coultas
New member introduction and host financial question
15 January 2025 | 6 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.
Ricardo Navarro
Flip in CLE
15 January 2025 | 9 replies
You just want to make sure your paperwork is solid. we went with a company that specializes in writing them called creative tc. https://creativetc.io/
Tove Fox
Nevada, Ohio, Michigan, Pennsylvania Out of State Investing
14 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.
Phillip Austin
TREND - PM companies offering financial assistance for security deposit down payments
27 December 2024 | 8 replies
@Phillip Austin we've looked into these and it's our opinion they should only be used with Class A tenants, maybe Class B - deifinitely NOT Class C or D tenants.Several companies in this area will no longer allow S8 leases or tenants under 600 credit scores - because of the high number of claims & corresponding claim amounts.