Breland Clark
How to find developers
12 January 2025 | 5 replies
The associates I know at the moment aren't in this realm and I would like to have some sort of guidance moving into this next steps.So I'm looking for developers/mentors to help me move forward.
Chris Kay
How to Form First Core Four (BRRRR Team)
30 December 2024 | 20 replies
Just approach everyone with your business potential and they’ll typically help you out.
Leon George
New to BP Community
12 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.
Brett Coultas
New member introduction and host financial question
15 January 2025 | 6 replies
So, make sure YOU understand the copy & paste info below: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?
Steven Catudal
Investing in Alabama as out of state investor with a partner
15 January 2025 | 12 replies
@Steven Catudalthe 'no cash flow on a BRRRR' is typically just because you are boosting the ARV and then taking out the maximum amount you can on the refinance, often using a DSCR loan with a higher rate.
Marisela Arechiga
To ADU or to Purchase Another?
14 January 2025 | 8 replies
The reality is the land has value.I believe you are typically far better purchasing a different property with conventional financing than adding an ADU.
Jon Martin
Anyone Using 5G Routers for Internet?
11 January 2025 | 6 replies
In the end, people rely on internet for all sorts of things and you want that to be reliable.
Matt McNabb
Building Future Cashflow Portfolio
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?
Eli Kim
Maxed DTI. How should I get more properties?
10 January 2025 | 20 replies
I’ve been thinking DSCR but don’t they typically have higher down payments and closing costs?
Matthew Posteraro
Conservative Scaling for House Hacking
17 January 2025 | 7 replies
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?