David Ounanian
What are common landlord expenses, and who covers them? Landlord or tenant?
16 November 2024 | 3 replies
The landlord could offer to mow the lawn and shovel the walk, while making the tenant responsible for repairing or replacing the washing machine.Landlords and tenants need to confirm what is required within their written agreement.
Brian Quo
How bad is it to start off not cash flowing on 1st rental that is new construction?
20 November 2024 | 37 replies
Part of that you can justify because of the necessary repairs, but overall higher price points appreciate differently.The median home price has basically doubled in Milwaukee from about 160k to 320k in the last 10 years.
Anthony Leodoro
Offer Scripts for BRRRR/Fix-n-Flip
18 November 2024 | 5 replies
If you are looking at properties in need of renovation, they want you to know your costs up front and many will be as-is purchases with the expectation that you aren't requesting repairs and your costs are confirmed.Depending on your state, but likely in all states, you have an inspection contingency in the contract, but what you will learn is that you will be competing against seasoned investors and contractors who know their numbers and houses so make better as-is offers.
Moises Salazar
Seller financing approach
18 November 2024 | 5 replies
The best opportunities to get seller financing is those properties that require repairs and traditional financing may not be an option.
David Griffin
Section 8 tenant
16 November 2024 | 9 replies
Quote from @David Griffin: Quote from @Corby Goade: Why are you asking them for permission to perform repairs on your property?
Heidi Fahringer
Interview Questions for Prospective REI Accountant
19 November 2024 | 8 replies
@Heidi FahringerReal Estate Expertise - Are they familiar with real estate-specific tax strategies, such as depreciation, 1031 exchanges, and write-offs for repairs, property management, etc.?
Ally Gao
What is the best alternative for carpet flooring
19 November 2024 | 9 replies
Mark, we have some units that have hardwoods that we're repairing/restoring.
Saad D.
Is the 1% rule dead?
22 November 2024 | 92 replies
All in for example, 75k, rent 1600, thats 2% + That gets me going :) 15-20% net, so this is after any forecasted vacancy, repairs, property taxes etc.
Zach Rumfield
Family cabin in the mountains next to a major ski resort. Why not AirBnB?
22 November 2024 | 15 replies
You’d gain tax deductions, and you’d relieve yourself or your parents of any additional work regarding reservations or repairs.
Andrew Fidler
Anyone else having problems with LMHA Section 8 in Toledo???
22 November 2024 | 9 replies
I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.