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3 February 2025 | 15 replies
The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default.
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29 January 2025 | 14 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 | 16 replies
In our opinion, Class C tenants have FICO scores from 560 to 620 - where their chance of default/nonpayment is 15-22%.
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12 February 2025 | 10 replies
well you dont say how much you have in it.. but if you can sell now and lose 10k and get out of a HML that would be my suggestion.HML if they go into default interest and you could look at losing quite a bit especially if your HML is one of those that are not forgiving and wont give an inch on what they are owed.
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15 February 2025 | 11 replies
If you default, you'd lose all that has been invested in the property.
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21 February 2025 | 22 replies
I'd be surprised that you couldn't find several HML with that record, assuming you haven't defaulted.
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28 January 2025 | 0 replies
Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.
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24 January 2025 | 13 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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16 February 2025 | 70 replies
If you live in a catchment area with a bad default school you, might get denied at all the schools you are applying to, so you're stuck going to the school in your default geography.
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28 January 2025 | 0 replies
Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.