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12 February 2025 | 5 replies
Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month.
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12 February 2025 | 1 reply
If you turn any two "bonus rooms" (rec room, office, formal dining room) into two more bedrooms, then you're at $5,950+ per month—a 138% increase in rental income.Now, imagine scaling this across multiple properties while keeping lower upfront costs compared to multifamily properties.
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17 February 2025 | 71 replies
I couldn't imagine how hard this would have been to navigate if property were even 1 hour away.
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28 January 2025 | 27 replies
Either way, there are several people who make this work all the time.
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8 February 2025 | 22 replies
Heating costs go up in winter, as does electricity due to the reduced natural light and more people indoors.
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2 February 2025 | 13 replies
So there's no point in having an out of state LLC in that scenario.I would imagine other states have similar laws, but I do not know for sure.
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3 February 2025 | 5 replies
I imagine others don't like that it's in an older condo building without private laundry.
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15 February 2025 | 77 replies
If you struggle with this idea, imagine that you won the lottery tomorrow and wanted to pay the house off.
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17 February 2025 | 32 replies
Yes, you are right about the child labor laws imagine these days if people saw a 9 year old swinging a box cutter and carrying bundles of magazines almost as heavy as he was!
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12 February 2025 | 16 replies
As for the Indianapolis market goes, I imagine a RE attorney or Title company will be a great starting point for me.