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10 February 2025 | 62 replies
It's just not the reality.I don't know your wife's income so it's hard to know what you need to replace in order to let her retire but if you think you'll get her retired in the next year or 2....you will have a 99% chance of being let down.Becoming financially free, or not needing a 2 income household comes down to 2 simple factors.
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29 January 2025 | 6 replies
That is between 6 and 20 returns out of every 10,000 returns.That 6 or 20 has to include some pretty likely candidates.
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6 February 2025 | 9 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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20 January 2025 | 6 replies
I looked into the maintenance option years back to discover a trend of: apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)
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16 January 2025 | 6 replies
Assume break even cash flow while rented which includes a generous $600/mo repair fund.
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20 January 2025 | 2 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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15 January 2025 | 7 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.
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1 February 2025 | 14 replies
Do you include specific clauses in each of your subject to deals spelling out exactly how insurance on the property will be handled?
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17 January 2025 | 1 reply
The Creative Investor Meetup is designed for beginning to advanced investors who would like additional strategies when constructing deals.All aspects of real estate investing will be covered including (but not limited to) - Wholesaling, Flipping, Buy and Hold and Commercial with an emphasis on Creative Financing.
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22 January 2025 | 0 replies
Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.