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19 December 2024 | 55 replies
Some of the negative reviews I've read on Norada (not necessarily on BP) seem to stem from not understanding Norada's responsibility in helping you meet your investment goals, nor in yours once the purchase contract is complete.
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9 December 2024 | 8 replies
Still doing some digging, but if the neighborhood and city will allow it then will take the next step and see if the cost of these additional services would negate the value of splitting the property up or not.
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13 December 2024 | 13 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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10 December 2024 | 6 replies
Hi @Tim Holt I think in general house hacking is usually a good move because it gets you off the sidelines and into the game with the most favorable financing possible (30 year fixed).There's a lot of value in getting started today vs waiting some undefined number of years until conditions are better, which could be a long time from now, because real estate is a business and the sooner you start actually learning about that business, the better.With all that said, I always recommend that people analyze any potential house hack as a pure investment that they aren't going to live in, because someday they may want to move out and you should know up front (before you commit) whether you're going to be able to do that, or whether you're overpaying and will be stuck in the property unable to move out because it'll be cash flow negative if you do.So you had it exactly right when you wrote, "the property would need to cash flow when I move out and rent out all units."
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11 December 2024 | 25 replies
Say good bye to the negative connotations of wholesaling, hello to cross selling.
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11 December 2024 | 11 replies
Hey @Ben CochranBill Faeth from Build Short Term Rental Wealth has discussed this concept, which he calls “Return on Equity.”
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16 December 2024 | 23 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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9 December 2024 | 11 replies
The main negatives are UDFI (unrelated debt financing income), but that applies when there’s income.
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10 December 2024 | 16 replies
Cashflow is a bit negative on this deal since it's the better part of Tulsa.What do you think?
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7 December 2024 | 150 replies
Got a good grasp of the concept, with very little info on the step-by-step actions I can take.