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14 January 2025 | 19 replies
Quote from @Miguel Del Mazo: @Bonnie Low I went to check out MiniStays a while back, and it seems like a good site.
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23 January 2025 | 21 replies
But here are the basics of each class.Class A Property:This is the “high-rent district”.
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3 February 2025 | 15 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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5 February 2025 | 2 replies
If your PM is recommending a reduction of $100 on a $2000 a month rental property but you don't want to lose that money every month.
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8 February 2025 | 14 replies
I would forgo altogether the decorative fence too. regarding the driveway & sidewalk I would recommend not adding a brick ribbon.
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14 January 2025 | 3 replies
You can also check their reviews online at Google, Facebook, or Yelp.
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5 February 2025 | 17 replies
I should probably focus less on the highs and lows and aim for that average ARV per location and what buyers/renters are looking for.
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9 January 2025 | 4 replies
My recommendation would be to get approved as a Landlord, contact the director's office and request that an inspection be completed before a tenant is selected (sometimes they will do this as long as you select a tenant within 14 days - which you want anyways), and have an online application and screening resource in place.
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26 January 2025 | 8 replies
I looked at their booking calendar one time and thought it was pretty empty.I guess you don't know until you try...and probably depends on if you want high occupancy or high rate?