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21 January 2025 | 14 replies
We don't pay vendors by credit card or cashapp because it is far too hard to keep the accounting straight with a high volume of transactions to do that.
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20 January 2025 | 2 replies
Take ownership of your mistake and learn to do the proper due diligence recommended above😊
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13 February 2025 | 35 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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24 January 2025 | 0 replies
Proper research, budgeting, and a well-thought-out strategy are key to minimizing risks and maximizing returns.In the end, BRRRR is an active investment strategy that, when executed correctly, can lead to long-term wealth creation, a steady stream of rental income, and a scalable real estate portfolio.
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18 January 2025 | 15 replies
Credit Karma has a fantastic "score simulator" tool that you can use to project credit score changes (paying off balances, opening a new card, using an old card that has not been used in some time, just paying your bills on time for 6 or 12 months).
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22 January 2025 | 12 replies
North side Chicago I have never even had to give a tenant a late fee and none of the tenants I have placed for clients have ever given them issues either, properly picked people pay like clockwork on autopay.
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26 January 2025 | 54 replies
I don't think he would allow someone that had to put the fee on a credit card.
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29 January 2025 | 14 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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12 January 2025 | 21 replies
Quote from @Preston Dean: Quote from @Michael Ewers: Quote from @Preston Dean: Hi @Michael EwersI have had a few past clients from Cali call me saying "I sent post cards to home sellers and I have someone who wants to sell, can you help me with pictures and videos" I think their method was just mass mail and they got a few hits.
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21 January 2025 | 13 replies
It's great for a landlord if the tenant is properly screened.