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15 September 2024 | 0 replies
Market in a MinuteEast Tennessee home sales increased 5.2% from the previous month, and increased 9.3% from a year ago.The median sale price was $374,950 — up 7.13% from the previous year.Total housing inventory increased from the previous year – up 43.2% from a year ago.Half of the homes sold were under contract in 15 days or less, up from 9 days a year ago.44.61% of homes sold for the asking price or above, with 23.72% selling for more than the asking price. 10.32% sold for at least $10,000 over asking and 4% sold for at least $25,000 over asking.The sale-to-list price ratio decreased from last month to 98% – down from 98.6% a year ago.New construction represented 13.28% of total home sales.If you want to nerd out on the market here I'm always happy to chat.
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16 September 2024 | 6 replies
The most common benefits a landlord can get from an arbitrage agreement are: reduced vacancy expense, decreased maintenance costs (most arbitragers agree to fix any damage done by guests), increased rent (most pay a premium), reduced number of hours managing the property (aka it's more passive)Some less common benefits, but still worth mentioning: Using the property to host their own guests at a lower rate during the "vacation season", Revenue sharing, arbitrage managing landscaping, and other management tasks.
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15 September 2024 | 3 replies
A: Landlord has an obligation to provide clean water, suck it up and buy it.B: Hard water is bad for your plumbing, buy it hopefully to decrease future repairs.C: Water softeners, like under-sink disposals, ice makers, ceiling fans, love to break and cost you money.
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21 September 2024 | 71 replies
While BRRRR remains viable, its feasibility has decreased in certain markets, such as Central Florida.
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16 September 2024 | 8 replies
The drawback would be if you only make minimum payments, the balance will never decrease.
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16 September 2024 | 18 replies
The idea of doing the gradual rate decreases is to have a gradualness to the market fluctuates.
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14 September 2024 | 12 replies
Looking at the data you provided for Melbourne, FL:- Average rent is around $2,000-$2,100- Rents have actually decreased slightly year-over-year- There's a wide range of rental prices ($650 to $6,500)This suggests a diverse market with potential opportunities, but also some volatility.
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15 September 2024 | 38 replies
If this comes in low, this decreases your LTV.
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10 September 2024 | 10 replies
I noted the year-over-year increase in STR permits, the decrease in average nightly revenue, and the sentiment that economically-incentivized sellers would flood the market after this winter season (effectively increasing housing supply and decreasing prices).
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12 September 2024 | 9 replies
(assuming the cash flow is higher than PITI).My second question is if I acquired a duplex via seller financing, would that also decrease my DTI?