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17 February 2025 | 105 replies
they DONT these guys are trainers there is huge money in it far more than they could make actually wholesaling .. think about it the amount of properties that can be wholesaled is quite small actually very very narrow real estate nicheThe amount of dreamers who want to make money wholesaling and then buy rentals then retire ( this is a common theme among those who start the wholesaling gig).
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7 February 2025 | 40 replies
Many hundreds of wasted hours, that if included, would wipe out a significant amount of earnings. 1.
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28 January 2025 | 15 replies
The time and amount offered would not be negotiable.
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17 February 2025 | 10 replies
I had a fair amount of people (between 5 and 10) express some interest.
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17 February 2025 | 6 replies
It costs the same amount to replace a roof or furnace whether the house is worth $300k or $30k (assuming a similar size).
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15 February 2025 | 21 replies
Any profit you can make from STR will help with the mortgage, but it's a bad idea to count on the STR to make a certain amount of money if that's the only way you can afford the house.
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29 January 2025 | 16 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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29 January 2025 | 28 replies
Both are excellent platforms which save people immense amount of work and tme by compiling all the critical data you need in 1 place but there leads are way behind the county recorders/courts/notices i.e the source of most motivated seller leads.
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31 January 2025 | 7 replies
My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.
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17 January 2025 | 3 replies
You can simply request a separate check for the $100 increase to bring the total deposit in line with the new rent amount.