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3 December 2024 | 6 replies
Ensure they send pictures and reports so you can monitor progress.4.Hire Trusted Contractors: Work only with contractors who come highly recommended by people you trust.
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3 December 2024 | 5 replies
that will dictate the highest and best use for sure.Whatever you do with it I'd document it because people like seeing the progress when they are sitting in the final project all nice and complete.
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5 December 2024 | 34 replies
Also, you can evaluate today's deal whereas you can only speculate what deal may be available in 10 years.
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17 December 2024 | 13 replies
For his coaching he advertises that his coaches are paying members who are independent contractors & not employed by REtipster & that you are encouraged to evaluate them & determine their suitability for your needs.
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8 December 2024 | 26 replies
I’d love to help you get started on your first deal.Looking forward to seeing your progress!
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27 November 2024 | 2 replies
While this project progressed smoothly, it reinforced the importance of clear communication and coordination with contractors to ensure renovations are completed efficiently.
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5 December 2024 | 4 replies
It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.
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5 December 2024 | 5 replies
Is there a workaround or a way to get this re-evaluated?
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1 December 2024 | 3 replies
Quote from @Tanner Martillo: Hi BP Community,I’m evaluating a potential investment property in Cincinnati, Ohio, and would love to get your insights!
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5 December 2024 | 7 replies
It sounds like you're in a good position to evaluate your options carefully.