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12 February 2025 | 23 replies
See if you can get a historical expenditure for this utility and take that yearly cost and divide it by the total SF of all units to get a per SF cost of gas for the building, then multiply by the SF of each unit for a monthly cost for each of the 4 units, themselves.
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5 February 2025 | 6 replies
Since you're 6-12 months away from buying, use this time to build investor relationships, master deal analysis, and secure financing.
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12 January 2025 | 6 replies
And if they seem open to it be sure to follow up every two months or so.
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31 January 2025 | 6 replies
@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.
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14 January 2025 | 329 replies
Amazing that this is the only business in America where you are providing a service for free at the moment.
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13 January 2025 | 6 replies
If a person has to ask, at all, I STRONGLY advise to use a PM service for tenant placement.
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10 February 2025 | 6 replies
Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.
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11 January 2025 | 15 replies
Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.
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12 February 2025 | 9 replies
You would basically offer the same set up utilities but you would have a residual income monthly by renting the plot to the owners of the space.
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31 January 2025 | 8 replies
As long the tenants pay the rent each month, increasing their rent will be very tough and getting them to leave will be extremely tough.