Jake Thorpe
Pulling out equity, HELOC, other stuff
16 December 2024 | 11 replies
And yes, I know people will say "get her in contract if she wants the house and perform repairs" that would be the best scenario except At that point I was completely out of money.
Brett Riemensnider
Claiming Expenses on SMF During Tax Season
11 December 2024 | 6 replies
Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.
Nathaniel Kamp
Advise needed to purchase problem property
17 December 2024 | 4 replies
(I would not specify how much.)If the property needs a ton of repairs, then even buying it subject to the existing mortgage may not be enough to make this a viable deal.You need more info, and fast!
Daniel Reed
Strategies for Transitioning to Multifamily Properties with Positive Cash Flow?
25 December 2024 | 11 replies
If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.
Elliot Rosen
Impact of a bowing foundation on resell value
12 December 2024 | 6 replies
You may need to disclose that you repaired this to buyers and want to include more detailed information about what was done.
Keegan Felix
Full time working mom of 3 in my 40's with 8K to invest
9 January 2025 | 21 replies
You'll need 20% down plus reserves for other costs as well as repairs and vacancies.
Alex R.
Southern Impression Homes
14 January 2025 | 27 replies
I like new construction since there isn't any deferred maintenance and the properties should be relatively maintenance free for the first couple years (although it's good to include maintenance/repairs in your pro forma and maintain reserves just in case).
Parker Bullard
Trying to Break Even by Leveraging Equity
13 December 2024 | 7 replies
Point being if you are leveraged to the hilt with no cash how are you going to make those required repairs etc?
Felicia Richardson
Fannie Mae HomeStyle
11 December 2024 | 8 replies
When the transaction closes, the purchase is funded, and we set aside additional funds in an escrow account to pay predetermined professionals to make any required or desired repairs or upgrades to a property AFTER the buyers settle on the purchase transaction.
Catherine Javier
Keep, refinance or sell?
18 December 2024 | 15 replies
Hoa said that we need to change/repair driveway otherwise we will be fined.