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5 March 2024 | 4 replies
I think developers do well when they sell, but in my opinion is more risky than a typical flip due to the time that it takes.
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7 March 2024 | 9 replies
For one, typically the board has to approve who ever buys it and even the tenant of sublet.
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7 March 2024 | 9 replies
Also, for these loan types, typical down payment would be 20-25% down.
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7 March 2024 | 29 replies
It wouldn't let me tag him on here. https://www.biggerpockets.com/forums/12/topics/1173593-begin...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+, 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, 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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7 March 2024 | 0 replies
We also host meetups about every 2-3 months in Norfolk that typically has 40-60 people show up every time, and would love to expand that number so everyone has the opportunity to network with their potential next business partner.
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7 March 2024 | 2 replies
Personally I work in the lending business and would love to inform you on my experience based up on what my clients typically go for.
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7 March 2024 | 11 replies
I typically have a responsible executive of the company (President, CEO, CFO, etc.) fill out the application and get approved.
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7 March 2024 | 5 replies
We agreed on a section 8 tenant stabilization plan, and after their first full month of taking over, here's how we're doing: Total Properties: 11Total Rent To Collect: $10,240Historically, under Own It Detroit (Mutual Property Management) -- monthly totals of rent collected on the first and before the 5th was typically $1200 LogicPM has inherited tenants who for the past 6-8 months were told as long as payments come in before the end of the month, partial payments included, you're okay.
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6 March 2024 | 25 replies
Essentially, his partner (you, in that scenario) are providing the bank roll and you get interest and owner ship.
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7 March 2024 | 4 replies
Typically, during inspections of occupied homes, tenants/owners will not expect or want their stuff to be moved all over the place to examine every inch of the property.