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12 June 2024 | 15 replies
Are you local?
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12 June 2024 | 23 replies
For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one in the same?
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12 June 2024 | 8 replies
I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town. 8 standard 2/1 apartments - Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k Cap: 10 (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth, 34k/yrCurrent Cash flow: 531/mth, 6,378/yrAfter reno Cash Flow: 2131/mth, 25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).
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12 June 2024 | 7 replies
Also, does anyone use/have feedback on local Airbnb cleaning services?
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13 June 2024 | 3 replies
I recommend you join a local networking group and build relationships.
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13 June 2024 | 22 replies
Do you have a policy with a local agent or do you use Proper or Foremost?
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12 June 2024 | 2 replies
I'd reach out to someone in a local REIA where the property is located- those folks will know of some private individuals that are looking to lend. if the SFH is your primary residence, you should be able to get a HELOC at a decent rate from a regional or credit union.
13 June 2024 | 4 replies
@Ronald Rohde is local and might be a great resource for you.
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11 June 2024 | 4 replies
Have you been going to local meetups in your area to meet other people flipping locally?
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12 June 2024 | 2 replies
I would go to meetup.com to find local investor meetups in the DMV.