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22 January 2025 | 8 replies
I know your goal is to BRRR.
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12 February 2025 | 10 replies
The last tip, I would also see about the first option above I mentioned and add in staging if you do not have it.
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12 February 2025 | 15 replies
For example "No evictions within the last 5 years" or 10 or just no evictions period. 2.
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27 January 2025 | 15 replies
@Philip Beckwith, Since this last post is only 5 months old and you are in Grand Rapids like me, have you had any follow up/results / success since this last post reply?
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15 January 2025 | 29 replies
The goal is not to get the house back.
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29 January 2025 | 11 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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24 January 2025 | 2 replies
They push their offer without listening to the seller’s story, concerns, or goals.
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9 February 2025 | 2 replies
Last year we had a water leak on a Friday night, we had somebody out immediately Friday night and came back on Saturday to do final clean up.
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20 January 2025 | 32 replies
Yes I own two that are near 100 years old and I will tell you they are a pain in the you know what compared to all of my post WW2 properties especially post 1980… layouts are better in the last 50 years and energy efficiency is better and I can keep going… HOWEVER to reply to the other aspect of your question, I’ve found appreciation is better with older properties in areas of the path of progress.
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11 February 2025 | 5 replies
Look at the current inventory, days on the market, and previous sales in the last 6 months that are similar to your subject property within a mile radius.