Don M.
First time with new construction: Cape Coral, FL
20 January 2025 | 204 replies
Sheathing inspection was a pass.
Samuel Gebretnsae
Seller said "He is not required to disclose water damage repair done"
8 January 2025 | 27 replies
I am currently under contract for a property, and my inspection period has just expired.
Yash Shah
Corporate (Bank owned) house for sale
23 January 2025 | 2 replies
Is there anything specific I should focus on during the due diligence process, particularly regarding title and document inspection, compared to a traditional sale?
Lorraine Hadden
Sellers/Agent Placed the EMD in an Interpleader Account w/the CA Courts
24 January 2025 | 3 replies
After the home inspection, we opted to cancel escrow and requested our EMD back.
Jeffrey Bourque
Found a Deal but Not Sure
27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
Anthony Gallagher
New landlord Policy Insurance Inspection in Brooklyn
20 December 2024 | 3 replies
Are they giving advice about the policy and inspection?
Bob Bowser
Overpaid on tax upset sale ? Just walk away ?
19 January 2025 | 2 replies
My mistake for not inspecting the property beforehand.
Chris Hertig
Tenant Living in Garage/Shop!
14 January 2025 | 4 replies
He continues to deny he lives there, lied to the police when they came with a code violation and inspection, and most recently overloaded the electrical and blew/snapped the line!
Zander Ayton
Insurance while flipping
22 January 2025 | 2 replies
Usually when I close on a house, the insurance company sends out somebody to do a visual inspection.
Julio Gonzalez
Cost Segregation Study on SFH in Iowa
22 January 2025 | 0 replies
Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elementsBasic HVAC componentsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.