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13 October 2024 | 19 replies
I found the strategy to be less intensive than short-term rentals, but still challenging at times because there is more turn-over than long-term rentals.We make roughly 20% more on average in rental income with in being a Mid-term rental.My advice for picking a strategy is just to pick ONE and go ALL IN on that, so you can scale it.
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12 October 2024 | 25 replies
And super low inventory means no discounts, even for properties in rough shape.
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11 October 2024 | 26 replies
You could also call a couple of contractors on the phone and get rough sqft pricing from them for roofing, siding, painting etc. like how much the averages costs are per square (100 square feet) and square foot .
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9 October 2024 | 1 reply
Been researching, reading, listening, but the big and rough thing for me is to make the right decision/s, since my option are a lot, or maybe they do not exist?
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11 October 2024 | 56 replies
Here were the results: I have now moved out of the home and I am cash flowing roughly $1k after all things considered (I self-manage).I regret a few things, but feel unbelievably lucky and grateful with how it went (especially with the timing of the purchase and refinancing).
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9 October 2024 | 23 replies
: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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8 October 2024 | 3 replies
The rule I use is to double the money after five years in case you need to sell.Meaning, with your initial investment of 132k (down payment plus initial closing costs), and considering an additional 5% closing fee of the home’s value when you sell (roughly another 30k for agent and lawyer fees), your total upfront cost plus closing on sale would be around 162k.
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11 October 2024 | 30 replies
Napkin math on offers to get a rough idea, then a deep dive when under contract.
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16 October 2024 | 25 replies
: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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13 October 2024 | 54 replies
They gave us a quote to do water and gas for roughly 7k.