Frank Hotard
First Home Issues and Strategy
10 January 2025 | 4 replies
i do not however use it for heat mine is an AC only unit I believe not a heat pump unit.If you're whole unit is relying on one mini split for ac and heat that surprises me just given if you shut a bedroom door you'd not have heat from the split that I assume is in the living room.
Carlos Rodrigues
Purchasing a property with illegal bathroom
31 December 2024 | 8 replies
Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."
Brian A Reed
Newbie fired up about REI and getting started in 2025!
5 January 2025 | 2 replies
Simple things like a branded email at your domain and a website can open a lot of doors.
David Young
Questions From a first time Investor
29 January 2025 | 12 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.
Nevin Wilkie
Paint and Cabinets recommendations
3 January 2025 | 5 replies
It tends to hide marks better.Walls: Neutral tones like SW Repose Gray, Behr Swiss Coffee, or Moore Classic Gray are renter-friendly and modern.Trim and Doors: Use a crisp white like SW Extra White or Moore Chantilly Lace.Accent Walls: For a touch of style, consider an accent wall in soft blue-gray.
Richard Bautista
Too good to be true to have connected with a real estate agent who has a whole team?
8 January 2025 | 29 replies
Stuff happens, who knows what hidden BS can be found on a purchased property ESPECIALLY a D-class "garage price" home.
Michael Poloncic
Tenant breaking their lease
9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
Alberto Freites
The Miami Market is Overrated?
27 December 2024 | 66 replies
This is one of my old homes, nothing of a house, the garage was converted to a MB, it sold in like 3 days cash, INSANE price.
Diandre Pierce
Mobile home park opportunity
12 January 2025 | 7 replies
Beyond that, networking with other investors in the mobile home park space could open up some doors for partnerships or additional funding ideas.