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31 January 2025 | 26 replies
Still lots of work to do on the house and the “book” I still have to figure out what to do for it (paper/digital/both), and a few more things I probably am not yet aware of … reading on this forum and asking questions sure has helped out a lot.
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23 February 2025 | 10 replies
Eventually, I went into a steady state of paying the $200 monthly and gave up after logging in few leads and figuring out my state does not have reasonable deals at my level and given my financial status.
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29 January 2025 | 8 replies
For the most accurate yearly tax figures, you can check directly on the Spartanburg County tax assessor's website.
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30 January 2025 | 2 replies
Meanwhile, gross rents of $1,800+ for 3-bedroom single-families is an achievable figure, so it’s possible to generate cash flow if you lever modestly.There’s a bunch of other stuff that’s worth highlighting—the economy, demographics, neighborhoods, new construction, and more.
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31 January 2025 | 3 replies
Even if it's just part time, the key to figuring out how PM is done well is by being present around people who have mastery of the industry.
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19 February 2025 | 11 replies
As long as its rational and both parties are level headed im sure you will figure it out.
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12 February 2025 | 14 replies
@Sean Dillon figure out how to buy a 2-4 unit with FHA loan.Then rent at least one of the units long-term for stable cashflow.Try STR in another unit as well as the other bedrooms in the unit you live in.You may even consider living in the basement, attic or worse unit in the building to rent everything else out and max cashflow.
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2 February 2025 | 8 replies
So, comps can help with figuring out local cap rates, then you need the income from the property to determine a value.
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12 February 2025 | 17 replies
Another way to look at this is......1) figure out what you want to make as a net profit, 2) Do a quick check to see if this is within local averages, 3) Set your pricing at that higher rate, but keep your occupancy lower.You make the same money with less effort or risk...This might not work everywhere, but it's certainly worth a try.
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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?