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18 December 2024 | 4 replies
I conducted title searches to confirm there are no liens and double-checked with the county to ensure there are no outstanding debts.
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18 December 2024 | 13 replies
Quote from @Chris Olandese: Stop expecting her to respond.Post a notice on her door and take a picture of it for evidence.
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19 December 2024 | 2 replies
Speaking of context, consider the second picture showing the delinquency rate over the past 33 years.
20 December 2024 | 2 replies
I have a pro forma using very pessimistic occupancy/booking percentages (worst case scenarios) which identify a very nice cash on cash return, and the ARV will (again, pessimistically) be at least double the purchase+rehab costs.
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20 December 2024 | 2 replies
It ended up okay, but it sure taught her to slow down and get comfortable digging deep into the due diligence.Here in San Diego, I’ve seen the seasoned investors always double-check with a well-regarded local title attorney..I’ve heard there are a few firms around downtown that specialize in smoothing out odball title issues..or a trusted property manager who knows what unique fees to expect.
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24 December 2024 | 44 replies
If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.
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6 January 2025 | 31 replies
We decided we needed to either double down and buy probably 2 more laundromats to have the cash flow for a manager, or sell.
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6 January 2025 | 77 replies
These prices doubled during COVID and would probably triple if tariffs or shutdown with China.
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19 December 2024 | 3 replies
You can also double hack these if you have enough units and live in one unit and use one unit for your business, but of course that decreases your cash flow but increases your usability.You can also use an FHA loan to get a mixed-use property with only 3.5% down if the residential square footage if more than 50% of the total square footage.
21 December 2024 | 18 replies
That being said, we have an incomplete picture of your personal situation so please take this advice with a grain of salt.Good luck with your investing journey!