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24 February 2025 | 11 replies
It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.
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9 February 2025 | 36 replies
Fortunately I stopped borrowing on bridge debt a very long time ago so I've managed to avoid some of the distress you are seeing today as these bridge loans are maturing.
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6 February 2025 | 7 replies
If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.
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31 January 2025 | 7 replies
The promise of accelerated depreciation and immediate tax savings is attractive.
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27 January 2025 | 1 reply
For example, avoid wasting time comparing new construction with sun-soaked windows to basement units with stained drop ceilings.
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12 February 2025 | 4 replies
The actual mechanism for moving the LLC would be best to consult an attorney or tax professional.
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14 February 2025 | 6 replies
You know a similar thing happened in Kansas City (more specifically Jackson County, MO) regarding property taxes in 2023.
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24 January 2025 | 11 replies
Avoiding accessive PM fees (personally I recommend most people self-manage)These will eat away at your ROI.
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10 February 2025 | 6 replies
My net number is rental income minus expenses(3 mortgages, paying power bill at all three houses, property tax, insurance, internet in two properties).
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14 February 2025 | 9 replies
Work with a lot of expats and foreign nationals in this space tax related.