Deirdre Lizio
Should you pick a property manager based on price or service?
17 January 2025 | 23 replies
It will take time to build a dependable and reliable network of licensed professionals you can trust.
Bruce M.
Large RV or Boat - Tax incentives, Tax strategies
13 January 2025 | 7 replies
That said, depending on your business, you can definitely get creative with tax deductions for your RV or boat.One thought—it’s too bad you’re not considering the RV as your primary residence.
Clint Miller
Where Do You Find the Funds for the Down Payment?
26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
Ivan Castanon
I need to change strategies. What should I do?
3 February 2025 | 47 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
Ankit Lodha
Cash-our Refinance - DSCR
8 January 2025 | 13 replies
Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ Mil Depending on the STR income generated from this property, you could do up to 75% LTV on a cash out refinance.
Jemini Leckie
Out of State Cash Flow
29 January 2025 | 11 replies
Most of our out of state investors in Pittsburgh find success depending on their expectations.
Tom Rairdon
Tax considerations when selling a short term rental
12 January 2025 | 8 replies
If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!
Andrea Lucarelli
Furnished Mid-term rental investing - corporate, travel medical
29 January 2025 | 21 replies
This really depends on what your looking to do however for a very basic overview far west side is great, downtown and very close to the Cleveland Clinic, Little Italy, Tremont, and Ohio City are still great areas.
Samuel Coronado
Looking at another park
13 January 2025 | 8 replies
However, after renovations, the numbers improve significantly, and the challenge lies in bridging the gap between current and future performance.Expenses typically run at a 30-50% expense ratio for mobile home parks, depending on management and infrastructure conditions.
Kelly Mae
Fourplex addition in Ontario Canada
3 January 2025 | 2 replies
Currently the building runs well, good tenants who are below market rent but there is harmony and dependable cash flow.