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2 February 2025 | 8 replies
Loopnet has some comp information, but requires a paid (and not cheap) account to see it.Commercial properties are generally valued based on income, not comps per se.
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10 February 2025 | 16 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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13 February 2025 | 15 replies
STRs do not require you to be a REP in order to take losses against ordinary income.
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5 February 2025 | 2 replies
I know there is not a ton of resources that don't require large financial commitments, just wanted to see if anybody knew of cheaper alternatives.
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20 February 2025 | 15 replies
An office/in-person audit would require a face-to-face meeting, which you could request to have your CPA present for.
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30 January 2025 | 3 replies
So I’ve read that unbrella insurance providers require you to use them for car and home.
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9 February 2025 | 3 replies
BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?
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4 February 2025 | 1 reply
This gives only 56 days of notice, we just realized the bill requires 90 days notice, though it is confusing as it is referred to as an ‘eviction’ in the bill.
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10 February 2025 | 12 replies
That could be a good opportunity, but underwriting of a seller-financed fix-and-flip deal requires careful analysis.
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20 February 2025 | 4 replies
This may require a co-signer, such as yourself.