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16 September 2024 | 1 reply
I'd just like to get a sense of some different scenarios that might be appealing to them, while mitigating my acquisition costs.
16 September 2024 | 13 replies
I would also figure out the cost between now and next renewal and where you are related to the market.
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13 September 2024 | 16 replies
Here's some guidance on buying your first investment property in Southern California or Columbus, Ohio:Down payment:For investment properties, lenders typically require 15-30% down payment on your first investment15% down is possible with excellent credit (700+ score)20-25% down is more common, especially for multi-unit propertiesSection 8 considerations:Pros:Guaranteed portion of rent from governmentPotential for longer-term tenantsMay be easier to fill vacancies in some areasCons:More paperwork and inspections requiredRent amounts set by local housing authorityPotential property damage concernsOther tips:Research local markets carefully - price trends, rental rates, etc.Factor in all costs - taxes, insurance, maintenance, vacanciesConsider starting with a single-family home or small multi-unitBuild a team - real estate agent, property manager, contractorsHave cash reserves beyond just the down paymentUnderstand landlord-tenant laws in your chosen locationI'd recommend talking to local real estate agents in both areas to get more specific market insights.
15 September 2024 | 3 replies
Hello, Can anyone recommend a broker or a direct lender that I could get a large line of credit from to fund the down payments + closing costs on turnkey investment properties?
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9 September 2024 | 9 replies
Review their management agreement.
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13 September 2024 | 11 replies
You will most likely pay more than market rate so take that into account.You will then have to get it all furnished which can cost a pretty penny.
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12 September 2024 | 14 replies
They also manage over 1500 units as of now.
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15 September 2024 | 4 replies
I recommend using an experienced agent to help you buy especially off-market deals to help avoid costly mistakes.
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16 September 2024 | 6 replies
Do you want to manage property from out of state?
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12 September 2024 | 27 replies
I'm not sure what a fair price is, but if they aren't doing anything and it's sitting even though it's supposed to be done at the end of October, it's going to cost me more money anyway.