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21 January 2025 | 20 replies
It will ultimately depend on price point and what level of service you want to provide.
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29 January 2025 | 22 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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22 January 2025 | 0 replies
Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.
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26 January 2025 | 7 replies
Here’s what I recommend instead:Offer Value Beyond Price: Rather than just lowering your rates, focus on adding value to the guest experience.
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17 January 2025 | 5 replies
Yes I would agree you do need some level of expertise/experience.
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25 January 2025 | 5 replies
Yes, that means he will have to give up his 3.5% rate (or whatever it is assuming lower then today rates) but it is what it is.
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15 January 2025 | 0 replies
Historically, Charlotte has never experienced more than two months of this level of inventory in any given year.Days on Market Has DoubledCompared to last summer, the average Days on Market for rental properties has doubled, making it clear that tenant demand isn’t keeping up with supply.Why Is This Happening?
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9 February 2025 | 33 replies
The problem with vacancy is it assumes all products are the same, our 2 bedroom which is designed much better than our 3 bedroom and more thoroughly remodeled has lower vacancy.
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22 January 2025 | 9 replies
Crime in Little Rock is significantly lower than most cities it's the way the city is zoned it looks high based on the old city limits and population.
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21 January 2025 | 15 replies
This could lower your resale value.