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15 May 2024 | 15 replies
I would just communicate that you strive to maintain a high quality property and charge under market prices.
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17 May 2024 | 6 replies
I agree with the sentiment of "you must be highly organized."
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17 May 2024 | 21 replies
Agreed, it will impact the convenience and may strain with high-income tenants..
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17 May 2024 | 14 replies
Luckily I stayed in the car and they let me drive away.The problem with some of these C class areas are that you're going to get high vacancy, evictions, and high turn costs with tenants damaging the property.
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17 May 2024 | 4 replies
(probably not-they've got the 'high-ground')But like my dad used to say: "Ya don't know how far a frog will jump, 'till ya pock it!"
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14 May 2024 | 43 replies
Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy).
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17 May 2024 | 2 replies
Best money you'll spend, high ROI - no doubt about it!!
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17 May 2024 | 8 replies
It's a little tough when you only have 1 property (because sometimes the entry-level fee charged seems high compared against 1 property.)
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17 May 2024 | 8 replies
: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+, 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, 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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17 May 2024 | 8 replies
(Not actively purchasing as my money is tied up in the market right now)...so with the 2 lenders i've gotten here:STR DSCR Rural (not a log cabin or other non-conforming structure) just remote sfrHybrid loan 15% down, interest only investment loan with seller paid points to get to ~8% and reduce closing costs DSCR would use long term rental rates to establish monthly DSCR and then offset monthly with average DTI and 800+ credit and high cash reserves as long as DSCR is .75+additional appraisal to establish STR rate estimates to be used alongside the standard long term rental rates5 year prepayment penalty with reasonable terms