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30 November 2024 | 2 replies
Collecting data nationwide would be a difficult undertaking.
28 November 2024 | 3 replies
Collecting 2-4 rents for 1 property tends to offset taxes more favorably.
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1 December 2024 | 9 replies
@Michael Anderson If the property had been sold, it would make sense to formally assign the lease and deposit to the new owner and memorialize an agreement to collect and adjust rents after settlement, indemnify the other party for things arising during their respective ownership periods, etc.
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7 December 2024 | 18 replies
So far we have collected about $280,000 but the borrower has been unable to pay us off.
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2 December 2024 | 2 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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28 November 2024 | 13 replies
My monthly fees are as follows (handyman inspection $125, Cleaning $270 a turn (I collect this from guest), TAT&GET (collected from guest) Property Taxes, Insurance (I highly recommend you price this out, with hazard I pay $1,200 a year), internet/cable $100, Electricity $300 a month, AOAO dues $900 (association fees are increasing minimum 5% a year).
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7 December 2024 | 60 replies
If anyone is curious I had about $9k collecting dust that is my little "RE Developer" fund and I right now it is up to $11k and growing.
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6 December 2024 | 12 replies
I bought my home at the very end of 2021 but really didn't do any work on it or collect rent in 2021. 2022 is when I really started to do work on the rental side/unit of my property.
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28 November 2024 | 1 reply
So if you can collect rents into your business either by deeding the properties to your LLC (be careful of the due on sale clause on your mortgages) or by signing a master lease between you and your LLC and having the LLC sublet then that may help.
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10 December 2024 | 104 replies
I hope you are blasting deals and collecting Jerrys checks!