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11 February 2025 | 13 replies
Don't start throwing ideas at them like seller financing or numbers etc until you have an idea of if they actually intend to sell and what their needs are around the sale.This is very practical advice and I agree with the sentiment about not going into a conversation presuming anything about where their headspace is at.
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13 January 2025 | 11 replies
Lowering your standards invites expensive evictions and repairs.
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23 January 2025 | 52 replies
I would spend money to enhance and update to current standards the search functionality and person to person tagging so it's easier to find stuff.
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10 February 2025 | 62 replies
I was able to work at my counseling practice and my wife was able to stay home with our kids.
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13 January 2025 | 6 replies
@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it.
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13 January 2025 | 23 replies
(It costs 10k+ to drain, clean, refill the pool so I only do it once an year and this is pretty standard) I think it is matter of if it looks dirty or smells bad when guests use it.
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9 January 2025 | 4 replies
When managing multiple applications, it’s crucial to ensure your process is both fair and compliant with local, state, and federal housing laws, including the Fair Housing Act.A best practice to avoid any perception of bias or confusion is to process and work on one application at a time.
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19 January 2025 | 47 replies
Once these type investments develop a history, I can see a market similar to peer to peer lending where default rates become standardized and known.
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11 February 2025 | 31 replies
They also like to acquire MHP with higher vacancy/ vacant pads (not sure what the industry standard is).
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15 January 2025 | 14 replies
The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?