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21 February 2025 | 102 replies
I did it myself for a number of years - good rents for sure but never easy.We have found if you buy in the right areas you can have really high-quality people renting by the room though (our average credit score was >700 for a long time).Do think short-term rentals are equally (or more) challenging in my experience.Regardless of the model, I think it's a great call to offload the thinking and stress by partnering with an operator who does the heavy lifting.
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29 January 2025 | 12 replies
"Inflation expectations" is a purely rational and logical way to look at it, but let's consider that bond market buyers/sellers aren't 100% comprised of Vulcans, and that there are highly emotional and irrational individuals among them, as well.
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22 February 2025 | 10 replies
Not only that, but it is unoccupied and subject to any number of things happening to it while it is unoccupied simply put, it just does not seem worth it to try to haggle over a raise like this. however, if you are in a high demand area with your property, and you know that it has a lot of value, you could post an ad to try to get some feelers out for occupancy and if you find something better, as far as quality and price for the occupant, then you can consider the lengthy eviction process, but again you're doing all of this for about $200 extra and none of it seems worth it.
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6 February 2025 | 3 replies
Gutters are a must, I would highly recommend installing them on your property if you dont have them already.
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23 January 2025 | 6 replies
Look at their finishes and what they offer guests, use that as your baseline, then improve upon it.
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8 February 2025 | 6 replies
The other quotes I received were often unreasonably high compared to other properties in my portfolio—sometimes exceeding my current carrier’s increased rate for this property while offering less coverage.
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21 February 2025 | 14 replies
The other factor that's relevant for me is that my husband is a high end W-2 wage earner and we could greatly benefit from the potential tax benefits of actively managing the property.
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21 February 2025 | 29 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), 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 (around 10% probability of default), 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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15 January 2025 | 10 replies
Low vacancy rates, rising rents, and high tenant demand for more space/good school districts.
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9 February 2025 | 4 replies
He found that the moisture levels in the walls are extremely high, indicating significant damage.