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25 January 2025 | 7 replies
I think this totally depends on the investor and how many projects they are doing in a given year.
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20 January 2025 | 16 replies
That is often a matter of opinion and will depend on the attitude of your municipality.Most municipalities do not require neighborhood approval, but will offer the public opportunities to provide input which will be considered.
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10 February 2025 | 16 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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29 January 2025 | 27 replies
So depending on how much you pay for it, you can assess your cashflow.
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21 January 2025 | 10 replies
It would depend on the nature of the repair.
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21 January 2025 | 4 replies
@Blair Ross Jr depends on how much experience you have with investing in rental properties.
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18 February 2025 | 148 replies
I depend on another department as well for answers and I too have to wait," and then asked if I would "be open to an installment of a partial payment?
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25 January 2025 | 10 replies
It really depends on your goals, budget, target areas, etc though.
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3 February 2025 | 47 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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29 January 2025 | 12 replies
The proper answer is "it depends" I don't know anything about your case.I do prefer simple over unnecessary complexity.