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11 February 2025 | 7 replies
A) The $40K cash on hand was not including my emergency fund and merely represented what I wanted to stick to as a low ~10% DP or to be used for a small refresh/reno.
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26 January 2025 | 2 replies
However, I don't think I've seen it broken down as to what is included as part of that percentage.
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24 January 2025 | 42 replies
In order to move back into the home, the homeowner would need to reinstate or payoff the loan, including the costs of the receivership as permitted in the order.
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28 January 2025 | 11 replies
Things to consider when buying a new build are appliances, fans, blinds, and back yard landscaping; sometimes we can get appliances included, it just depends on the situation.
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29 January 2025 | 3 replies
Theming can be $5-10,000 per bedroom (includes whole house decor, so a 5 bedroom could be $50,000 for the entire home furniture) depending on your imagination and quality.
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21 January 2025 | 1 reply
Listing your property there ensures visibility.Build Relationships: When agents reach out, respond quickly, highlight your property’s amenities, and showcase your flexibility to meet displaced families’ needs.Highlight Insurance-Friendly Features: Emphasize features like flexible lease terms, utilities included, and a fully furnished setup to attract insurance placements.This approach has helped me successfully market to insurance companies.
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26 January 2025 | 5 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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27 January 2025 | 6 replies
However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.
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28 January 2025 | 22 replies
I'll include a BP article below that highlihgts the gist of them in alignment with BRRRRs.Also, I lived in NC for a bit, so happy to connect and introduce you to some folks in the area. https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...
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23 January 2025 | 4 replies
If we include investments in mortgage loans (trust deeds), real estate partnerships, REITs as well as direct property ownership, I’m at about 80%.