Drue Fourmont
Any advice for his investment situation?
20 December 2024 | 1 reply
Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?
Shawn Tuma
Duplex Concerns w/ VA Loan
17 December 2024 | 1 reply
Details on the duplex:Price: $385kBuilt: 2012Size: 2674 sq ft (1333 each side). 2 story, 3B/2.5B each side w/ 1 car garage & driveway for both, fenced backyard both sides.Interest: 5.49%PITI: $2,698Current Rent: $1,350 but could be brought up to ~$1,600, maybe $1,700Yearly Property Tax: $8,340 (I don't pay any on my side while I live there so $4,170)Upgrades: Vinyl floor in kitchen of both units, new AC (central HVAC) on vacant unit, roof done 2016.
Shayan Sameer
Fix n Flip 70% rule
3 January 2025 | 45 replies
Would love to chat and discuss in detail.
Dani Murai
General Contractor that services the Torrance/Gardena Area
17 December 2024 | 3 replies
While this isn't a hard and fast rule, more often then not, these are the guys that can't manage their schedules well, and will be gung-ho on your job for a couple weeks, then be flaking out as they picked up too much work and are trying to keep too many homeowners happy.And lastly, the more detail you have the better the bid will be with few change orders.
Toby Khan
Wichita, KS Investors
9 January 2025 | 107 replies
@Stephanie Brinkley-Thank you for such details about the area.
Monica Gonzalez
Newbie - Analysis Tools - No/Low Cost
18 December 2024 | 26 replies
I don't have pro, so I'm not sure exactly how much detail it will show me.
Puneet Mahi
Starting Property Management Business
23 December 2024 | 13 replies
Feel free to message me for more details...
John Lee
22, New to REI and looking to network and ask for advice
7 January 2025 | 20 replies
Not exactly sure about the legal details, but initial overview of the system seems to suggest this kills quite a few birds with one stone.
Daniel Reed
Strategies for Transitioning to Multifamily Properties with Positive Cash Flow?
25 December 2024 | 11 replies
If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.
Hamidou Keita
Seeking Advice on House Hacking Strategy: Buying Single-Family Home to Build Duplex i
5 January 2025 | 24 replies
@Hamidou Keita House hacking by converting a single-family to a duplex is a smart strategy, but requires careful planning.Pros: Offset living expenses, higher rental income, increased equity.Cons: Significant conversion costs (permits, construction), zoning restrictions, living in a construction zone, managing two tenants.Key Considerations:Feasibility: Check local zoning and permitting.Costs: Get detailed construction estimates.Market Analysis: Ensure post-conversion rent covers expenses and there's rental demand.Resources: BiggerPockets forums, local contractors, real estate agents.Have you researched your target property's conversion potential?