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7 January 2025 | 22 replies
I stack cashflow for capex and repairs because I have a decent W2 job that I live off of.
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1 January 2025 | 4 replies
Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.
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6 January 2025 | 2 replies
Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees.
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8 January 2025 | 9 replies
This will reduce your risk and cash invested and if something goes wrong you wont be bled dry with never ending repairs.
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9 January 2025 | 30 replies
Told me the violation wasn't corrected in the 30 days required timeframe (yes you are correct, the repairs were done in time but they didn't come out to confirm).
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9 January 2025 | 11 replies
Expenses incurred before the property is in service are considered capital expenditures and must be added to the property’s basis rather than deducted immediately.This means costs like rehab expenses, repairs, and other improvements made before the property is ready to rent are added to the property’s purchase price and can be depreciated over time once the property is in service.
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31 January 2025 | 121 replies
I'm a travel nurse that bought a cash property in 2022, spent most of '23 doing Reno and repairs.
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19 January 2025 | 51 replies
A few others have called out Hemlane, who appear also quite responsive here on BP and also offer a degree of repair/work order management baked right into their middle/upper tier offerings (versus having to bolt-on as with RentRedi + Latchel).
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7 January 2025 | 5 replies
This ensures you have a clear picture of what repairs are needed and helps avoid surprises during the rehab.
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5 January 2025 | 7 replies
I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.