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31 January 2025 | 121 replies
You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck in your search.
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4 February 2025 | 10 replies
The last thing you want is to acquire an STR deal that looks great on paper only to find out that the neighborhood you bought in does not allow Airbnb.
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12 February 2025 | 6 replies
With the new landlord/tenant ordinance that allows the tenant and extended amount of time to renew, this has encouraged prospective tenants to lock in leases for Fall 2022 term starting as early as last November.
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1 February 2025 | 12 replies
Capital gains are calculated as:Sale Price - (Original Purchase Price + Capital Improvements + Selling Costs) - depreciation (if applicable) = Capital GainYour mortgage or HELOC balance does not affect this calculation—it only determines how much cash you take home after the sale.In Massachusetts, if the home was your primary residence for at least 2 out of the last 5 years, you may qualify for the Section 121 Exclusion, allowing you to exclude up to $250,000 (single) or $500,000 (married filing jointly) of the gain from federal capital gains tax.
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15 February 2025 | 19 replies
There are/were developments going on last I was out there but not enough for me to want to pursue it at this time.
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29 January 2025 | 11 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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31 January 2025 | 6 replies
They pointed out all the things the last company did wrong, and gave me a quote for $4000.
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31 January 2025 | 2 replies
That was an excellent non-answer to my question, Skyler. hihi :)No they are not all the same. some are only interested in dealing with conventional purchases other are as you say better at handling assignments or double closes, some are commercial specialty, etc....A investor friendly one would be, at least from my point of view, one that understands there may need to be some last minute wheeling, dealing, and adjustment made to close a deal, understand what needs to be done and do not freak out about creative deals.Maybe my understanding or thoughts are wrong but that's what I meant by investor friendlyregards :)
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12 February 2025 | 43 replies
Now, it has been three months since they last took our calls.I have no idea if they are still in business.
7 February 2025 | 5 replies
One last thought, have you considered just selling to (or trying to partner with) a developer?