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26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
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29 January 2025 | 22 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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14 January 2025 | 7 replies
If the tenants don't care for the pool properly, it could cost you thousands to fix.
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17 January 2025 | 2 replies
also, happy to chat vendors, contractors, any other suggestions, etc. with you and be a resource anyway I can!
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18 February 2025 | 148 replies
The $56-a-unit process requires landlords to be up-to-date on their property taxes and for the properties to be free of any safety or building-code violations.Since landlords are not legally permitted to collect rent from tenants of a home with an inactive license, the system is designed to serve as a check on property owners, forcing them to address safety violations and pay their taxes.But Philadelphia’s Department of Licenses and Inspections lacks the resources to hunt down property owners who flout those rules, said Karen Guss, a spokesperson for the agency.
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13 January 2025 | 1 reply
But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully.
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17 January 2025 | 7 replies
I would have been fine working out a way to get it repaired had he come to us in any kind of civil or proper manner.
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21 January 2025 | 10 replies
Local Facebook groups can be a valuable resource when looking for a handyman.
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30 January 2025 | 24 replies
And actually, if you structure things properly you shouldn't have to worry about the tax implications at all.
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22 January 2025 | 9 replies
Time is a valuable resource and "spending" it everywhere at once isn't worth the effort.