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26 August 2024 | 73 replies
One day my roommate and I helped them move in a tv and in their apartment they had inflatable couches, the tv we were installing, beds, and a tanning bed, that's just about it.
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22 August 2024 | 7 replies
How will the installment sales impact capital gains?
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27 August 2024 | 43 replies
@Jason Merchey For more details, check out title 37, chapter 22 of the SC State law: http://www.scstatehouse.gov/code/t37c022.php (emphasis added):(30) "Mortgage loan" means a loan made to a natural person primarily for personal, family, or household use, primarily secured by a mortgage, deed of trust, or other security interest on residential real property or security interest arising under an installment sales contract or equivalent security interest against the borrower's dwelling and: (i) located in South Carolina, (ii) negotiated, offered, or otherwise transacted within this State, in whole or in part, or (iii) made or extended within this State.By definition, you didn't "make a mortgage loan" in the context of the legislation.
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23 August 2024 | 1 reply
I did see that SB7 said that multifamily properties would require submeters installed in every unit.
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22 August 2024 | 6 replies
I have 8+ units that I would like to install plank flooring/vinyl of some sort when the units turn over tenants.
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21 August 2024 | 9 replies
So you need to rip the pad out, then clean and dry the carpet, then install new pad.
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22 August 2024 | 5 replies
Quote from @Taylor Witt:I have 8+ units that I would like to install plank flooring/vinyl of some sort when the units turn over tenants.
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25 August 2024 | 57 replies
Is that fraud- no. its like someone wanted to charge me $1000 to install a dishwasher.
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21 August 2024 | 9 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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22 August 2024 | 9 replies
There are many others out there who would love to rent your empty unit.Also, I agree with others, install a washer/dryer if it's standard for the area.