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23 January 2025 | 5 replies
Here are key adjustments:Kitchen ($50k): Likely $60k-$70k for custom cabinetry, quartz, and premium appliances.Bathrooms ($40k): Expect closer to $50k-$60k for four bathrooms with high-end finishes.Flooring ($20k): Likely $25k-$30k for engineered hardwood, refinishing, and tile.Exterior ($12k): More realistically $15k-$18k with landscaping and a quality front door.Misc.
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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?
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5 February 2025 | 28 replies
I’m at the stage now where I’m shifting my focus to cost of living and overall quality of life in each area.
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27 December 2024 | 19 replies
Typically the quality of applicants in the winter months drops substantially as well.
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16 January 2025 | 11 replies
My clients can "force appreciate" the value of the property by doing a quality rehab for a lower than market cost because they are very good at spotting "diamonds in the rough".
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30 January 2025 | 34 replies
I know sometimes no matter what everything just isn't for everyone however if you stick to quality service you'll hit the goal more times than not.
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26 January 2025 | 17 replies
Any MF of the quality and size (50 up) I would have been interested in would have been cash flow negative for the next 5 years or so, even with 30% down.
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3 January 2025 | 3 replies
They sealed the entrances using metal screens (one around a pipe), but now the areas look unsightly.Additionally, there’s ongoing construction in the condo complex, which may have driven the mice into my unit.
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13 January 2025 | 7 replies
I've seen folks charge as high as $5,000 to $10,000 for tax planning and tax preparation, But i also know high quality folks that have fees are around $1,200 to 2k.
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13 January 2025 | 14 replies
For the duplex, would you consider it to be in a high quality (A), medium (B), or low (C) neighborhood?