Harrison Jones
Building a Long-Term Affordable Housing Strategy
31 December 2024 | 20 replies
2) Subsidizing rents:- S8 and other programs statisitically only train tenants how to be dependent on the free handouts.If you really want to make a difference, try basic financial education for tenants and the financial demographic they come from!
Robert Quiroz
Why are a lot of MFH being sold with rents under market
13 January 2025 | 30 replies
I also found that being at "market" rents it takes longer to rent therefore missing out on a month or two of income negating the ROI on improvements.
Leon George
New to BP Community
12 January 2025 | 11 replies
.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
Jared Mink
Evicting Tenants prior to or at purchase
6 January 2025 | 1 reply
Giving them a financial hand to leave could be to your benefit, but I would keep that in my back pocket until its necessary. 7.
Fed Finjap
Reflecting on my first year house hacking a 3-flat in Chicago
2 January 2025 | 11 replies
It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.
Kevin Robert Highgate
New to Bigger pockets - New to Investing
1 January 2025 | 3 replies
I was able to become financially independent in 2 years with two properties.
Vincent Plant
Hard Money Costs Too Much?
13 January 2025 | 15 replies
I'll add a few more things that can have a huge financial impact: required reserves, LTC (loan to cost), application or other upfront fees, and prepayment penalties.As a fellow flipper, I think it's important to have reserves, but they shouldn't be required as part of your funding.
Mordy Chaimovitz
Crazy prices on 2 and 3 flat buildings in chicago
13 January 2025 | 11 replies
From the sentiment of your post it seems like you're viewing the buyers as strictly investors when they may lean more towards traditional homeowners looking for a quality of life improvement or an improvement on their current financial situation today.Let's say the buyer pays 465k and has a 5% interest rate.
Jonathan Small
Case Study: Cockroaches to Cash Flow
26 December 2024 | 0 replies
Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lenderHow did you add value to the deal?
Mel Kirchhoff
STR transitioning into furnished LTR options - Advice needed!
6 January 2025 | 9 replies
If you don't want that, I would sell it or put it into storage (which may not be financially feasible), but long-term renters are hard on furniture that is not theirs.