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15 December 2024 | 4 replies
During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.
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16 December 2024 | 17 replies
You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist).
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13 December 2024 | 3 replies
Not worth the liability risk and the potential damage pools leave.
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14 December 2024 | 11 replies
Like the others, inside mount if you can fit them.Look cleaner but they are also harder to damage.
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16 December 2024 | 8 replies
@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------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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12 December 2024 | 3 replies
Quote from @Michell Chase: It isn't a large amount but my concern is that if I remove the tenant in July I have no deposit in the event that there are damages to the unit.
16 December 2024 | 20 replies
Those are the hardest to notice because they dont cause any damage and drain normally.
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11 December 2024 | 4 replies
In our rental agreements, we use the security deposit to cover any damages once the lease has ended.
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16 December 2024 | 11 replies
I cannot sell because there was a break in and a lot of damage.
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15 December 2024 | 7 replies
Best practices for security deposit deductions (damages)?