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24 December 2024 | 9 replies
At 1.98M and 32 units, that is a fairly low price per door.
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30 December 2024 | 5 replies
Entire door is apx. $550.
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12 January 2025 | 7 replies
Beyond that, networking with other investors in the mobile home park space could open up some doors for partnerships or additional funding ideas.
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14 January 2025 | 17 replies
I'm still struggling to get my first AirBnB but values are rising, gross annual yield is mainly above 10%
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7 January 2025 | 16 replies
When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).
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9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
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1 February 2025 | 9 replies
New Roof, New Windows, Paint interior/Exterior, New Appliances, New Garage Door, New Fascia, New Fixtures (Bathroom and Ceiling fans), Electric Service Upgrade, 1204 Sqft, built 1960.
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7 January 2025 | 5 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.
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2 January 2025 | 29 replies
Quote from @Denise Brown-Puryearise Brown-Puryear: Quote from @Jamie Bateman: For full disclosure, I will say that I am a partner in a brand new loan servicing company that just opened its doors.
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6 January 2025 | 25 replies
Should I buy up as many cash flowing/appreciating properties for long term holds as possible to add doors to my portfolio (although, I haven't enjoyed being a landlord thus far...)?