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29 January 2025 | 2 replies
You can also assess a dollar amount that you value the cost of these requests to be, and ask for these as a discount from the purchase price or a concession to you for closing costs.
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23 January 2025 | 16 replies
If I leave this amount in Sch-E, I get taxed at ordinary income tax rate at Federal and State level, which along with my regular W2 income can be substantial.
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24 January 2025 | 11 replies
@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?
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17 February 2025 | 15 replies
That is something I would for sure have to look into as, according to your post, it seems like the timeline for mid-term rentals kind of lines up with the amount of time that we would be gone each year, which would work out well and probably require less of a hassle of trying to maintain the property after each stay for Air BnB.
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22 January 2025 | 4 replies
Yes if you hold it long term (really long term), you may get back the same amount that you would have received by not paying capital gains, but you have to hold it long term AND have the house appreciate.
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17 January 2025 | 3 replies
You can simply request a separate check for the $100 increase to bring the total deposit in line with the new rent amount.
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24 January 2025 | 42 replies
Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.
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9 February 2025 | 173 replies
Due diligence is a good amount of work.
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22 January 2025 | 0 replies
Using the appropriate amount of lights and mirrors is a pretty low-cost way to really make the space feel custom.Unique tile installation patterns such as vertical stacked or herringbone.
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12 February 2025 | 22 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.