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15 August 2024 | 21 replies
This may include examples such as maintaining the landscape, a minor plumbing repair, doing shingle repair on a leaky roof or painting a few rooms between tenants.
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12 August 2024 | 6 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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16 August 2024 | 19 replies
Spend one year in that house improving as you are able (new paint and landscaping at the very least).
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12 August 2024 | 2 replies
Hey Bigger Pockets Community,I hope everyone is doing well and continuing to navigate the ever-evolving real estate landscape.
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12 August 2024 | 12 replies
The amount you can use for closing costs and rate buy downs is limited, so that leaves you with the majority of the credit for "upgrades," like finishing the landscaping, building a fence, installing sod, a sprinkler system, planting trees, buying appliances and installing blinds, etc.
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14 August 2024 | 51 replies
The squatters threatened the landscape personnel who were simply trimming trees which were objectively hazardous.
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10 August 2024 | 12 replies
I use things like Venmo, CashApp and Meta Pay(facebook) to collect the payments from my tenants who want to use electronic banking.
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15 August 2024 | 57 replies
I've been thinking I would like to fix the outside landscaping/fence/Kitchen cabinetry and roof so I that I can get the max rent or just sell and buy in the midwest, 1031 exchange (not sure if I qualify).
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13 August 2024 | 97 replies
Four days later I expressed my intentions of terminating the contract, shortly afterwards I recieved a electronic document stating no known leases, the document was backdated prior to my contract.
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9 August 2024 | 20 replies
Super nice house with nice landscaping , hardwood floors in great condition, nearly move in ready with new furnace/hotwater/ central air.