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7 February 2025 | 11 replies
I haven't dug into the actual agreement, but was curious because I'm not in a position to house hack, but see many people on here recommend the strategy.
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30 January 2025 | 3 replies
I've never had something that low, but I'm also looking at roughly $30k in equity on this property.
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13 January 2025 | 8 replies
LOne common strategy is doing a cash-out refinance on one of your rental properties to tap into the equity.
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21 January 2025 | 59 replies
You’re surrounded by a support group I never had, and that’s a positive.
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17 January 2025 | 4 replies
Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.
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23 February 2025 | 42 replies
Again I am not advocating for this company and each person needs to do their own DD, all I am saying is I appreciated someone seeing something, calling me on it and having a conversation about it. if @Cheryl Abram lost 100% of her investment then these must not be first position loans.. as even if a rehab fix and flip fails you still have SOME value in the assset its not nothing.
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19 February 2025 | 32 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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10 February 2025 | 6 replies
The other positive, at least for apartments.com is if they fill out an application it's good for any other unit on the site for 30 days without having to pay the fee again.Not that it matters for the law but another thing we do for tenants after they are selected is do a gift basket that exceeds that in which they paid in application fees.
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11 February 2025 | 22 replies
A good way into it may be doing a house hack or live and flip then pulling the equity out in a refinance.Tons of ways to make money in this game!
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26 January 2025 | 11 replies
It’s good to budget for unforeseen expenses.Regarding PMI, it’s worth discussing directly with your loan servicer since many lenders require holding the property for a period or reaching specific equity thresholds before removal.If market rents are $2,200–$2,500, hiring a property manager could help you optimize rent while taking the burden of tenant screening off your plate.