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4 April 2024 | 2 replies
Amidst these obstacles shines a ray of hope— AI driven solutions that streamline recruitment processes and set the stage for sustainable development.AI; Fueling Transformation, in Real Estate OperationsEarly investments, in intelligence initially concentrated on products for consumers such as Zillows Zestimate.
5 April 2024 | 6 replies
We also contacted the window company, who identified it as faulty installation by the builder rather than a product defect.
7 April 2024 | 6 replies
However, buying a house and having to leave in a couple years will either force you to sale or take on negative cash flow because a SFH will not cash flow positive by putting 5%.
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4 April 2024 | 14 replies
The tax sale process is EXTREMELY messy.
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7 April 2024 | 32 replies
Rents are starting to rise but, you will not get anywhere close to the 1% rule up here, on normal sales, from what I see.
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8 April 2024 | 21 replies
Front unit i think market price is around 1600-1700, but i am planning for 1500-1550 to gain advantage on rentingit's a popular rental area in trending neighborhood, so it has a lot rental on the market and a lot investorfirst regret is i think my offer was too high, i offered asking price at 224k which with my 10k deposit and no inspection (i did had a long term contractor go take a look with me) i can likely get the house for cheaper, it went from 300k to now 224k from last year, so 8 month on market, i could get it for maybe 200k or 210k insteadOriginally i planned to have some minor interior update include few windows, which i am estimating around 3k, but noticing the 3rd floor shingle siding was aging and looks like just matter of time, so i had to replace 2 more exterior siding that need scaffolding, long story short, my repair cost went from 3k to around 8-9kmy dscr loan is 7.625% 30 years, my monthly would be $1577 PITI + water (say $230), compare to my expected rent of $2430, so $623 remaining each monthsome concerns are1. it's flat roof and it's just matter of time for me to replace2. i know this market is always trending, a lot tenants and a lot rentals, so it's competitive but popular, i dont know what to feel about it, i have other rental in the city, just not this specific neighborhood3. since there's so many investor in the area, why no one bought it for the price, it was once lowered to 256k before it go down to 224k. when the market was hot, i think 324k would easily sold, but obviously it didnt as that's what they listed in 2023 summer4. unit was managed by management company, last lease on front unit was from June 2022-June2023 rented for $1700, then they later put for sale for 324kon one hand i think the number works, but on the other hand, i keep have this feeling i wanted to back out of the offer, i think also due to my saving would be down to 20k after closing and all the repairs made, which i normally wanted to have at least 30k in bank, also the extra siding job got me scared a bit, and roof that need to be replaced in futureif i back out now, i am going to be losing 10k + inspection 800, so that's close to 11k lostWhat's your take on this, i would hate to lose 11k without any valid reason and just scared myself out of this deal, but honestly i am having some hard time looking forward to this purchase.
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6 April 2024 | 1 reply
If it's on the MLS, investors have direct access to it via the listing agent or their own agent, so why would be able to buy it cheap and the resell it into the same market that it's already sitting for sale on?
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6 April 2024 | 2 replies
However, it's always a good idea to address any potential issues upfront to avoid complications during the sales process.In short, if your property is currently insured and meets all building codes, replacing the secondary roof may not be necessary.
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5 April 2024 | 6 replies
I'm sure there is some loan product that can circumvent this, like a DSCR.
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5 April 2024 | 14 replies
Most lenders should be able to have both of these loan products.