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11 February 2025 | 0 replies
Call the owner and proposed the deal.
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10 February 2025 | 12 replies
As we continue to grow, it's becoming clear that we need a solid system to manage all our leads, nurture those leads, manage owner relationships, and property details so nothing slips through the cracks.
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20 February 2025 | 10 replies
Quote from @Cameron Moore: Exactly. 15 years ago, I noticed an increase in owners using insurance to pay for a replacement roof, usually to sweeten the pot during a sale.
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16 February 2025 | 1 reply
I used half the HELOC ($160K) as a down payment on a 12-unit property, making my dad a 35% owner since we used his funds.
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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.
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21 February 2025 | 14 replies
Working on large-scale data is great b/c sometimes it's all about how many owners you approach daily; the issue with over-the-top details is also getting lost in targeting specific owners and situations, aka focusers/tax liens, etc.
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12 February 2025 | 2 replies
I have always wrote my own contracts using online templates and I have been asked to write an owner financing contract for someone else.
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22 February 2025 | 2 replies
Make the LLC the owner of the trust3.
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15 February 2025 | 19 replies
I have the contact of an owner with a 4plex off market deal in case anyone is interested.
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3 February 2025 | 6 replies
Quote from @Jessica Young: Hey everyone, I'm an owner in a tiny HOA in Florida and the owners want to either ban smoking entirely or make a designated area.