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26 November 2024 | 8 replies
For example I have some units in VT that are a 1.5% rule and am looking to move but have not had a lot of bites and units sell for around $75k a piece
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26 November 2024 | 9 replies
Once you're able to analyze the existing condition of these 6 systems, you can then source piece rate pricing from sub contractors or a GC -- this may be done by quantity, day rate, etc.
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2 December 2024 | 33 replies
If, however, you look at real estate as fixed income, that's okay.If I could only give you one piece of advice, it would be to buy the property you want to own the most 10 years from now.
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7 December 2024 | 150 replies
Pick up the pieces and find out what you lack and get back to it....!
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1 December 2024 | 25 replies
IMO investing out of state requires a fantastic team before you buy a single piece of real estate.
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26 November 2024 | 17 replies
Personally, I think most newer investors WAY overthink this piece.
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10 December 2024 | 100 replies
If your market has a significant number of FHA or VA loans with zero to low down payments where a buyer can't afford to pay their agent out of pocket, your sellers may end up cutting off a significant portion of the home buying market, or once they do come around to considering negotiating on BAC, they may feel deceived, and now you may lose the potential for the recurring client that will ultimately otherwise drive your seller lead acquisition cost down.For planning: In a great business, a good rule of thumb is to estimate:100% Gross Income35% Cost of Sale30% Expenses35% Profit <-- very few businesses achieve this, but we're looking at an ideal solutionAssuming a national price average of $300k and 0.6% GCI, you'd be looking at:$1,800 Gross Income$630 Cost of Sale <-- agents/ transaction coordinators$540 Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (this piece should be roughly 10% of revenue, which would be $54 in this case)$630k ProfitIf your business sold 1,000 of these homes a year, you would have:$1,800,000 Gross Income$630k Cost of Sale <-- agents/ transaction coordinators (you could have 5 agents handling 200 sales each at $100k incomes and TC support at scale)$540k Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (you're going to est $125k in runner fees alone for signs; $25k+ in signs, $54k in ads to attract clients, $200k in photos, $10-20k minimum in E&O, $2k in liability, and what tech/ VA support)$630k Profit Scale costs will include hiring a managing broker for compliance to help oversee all of these transactions and implement legal changes and training.
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25 November 2024 | 5 replies
The next piece is marketing which is also challenging, and its best to make sure you have someone who can market and sell.
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29 November 2024 | 27 replies
A chance to manage the situation, even if a hassle.This does also get you in position for monitoring serious pieces of your building's infrastructure.
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26 November 2024 | 15 replies
I still haven't had the best of luck finding the right piece to the puzzle I'm building, so I thought if I let real estate agents, investors etc, that I do actually have we cash, and a normal job to fund these real estate investment's.