5 May 2024 | 7 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, many blemishes, but should have no evictions in last 2 years.
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7 May 2024 | 4 replies
You'll either have to have your attorney go through a process (deed theory state) or the court system (lien theory state) to get the property back if they don't pay, but you'll still have to make the payments to your lender.
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7 May 2024 | 9 replies
If that's the case is the best hope a 10/15 year loan with 30 year amortization with balloon payment due?
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7 May 2024 | 4 replies
Even if manage to find a crazy deal with instant equity to cover your down payment (unlikely) still need reserves to safely repair and manage it.
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7 May 2024 | 5 replies
She mentioned at 38:38 timemark in the video.she mentioned that one of the units had a year commitment with a payment of $44k (I guess it is company paying for one of their employee tenants)How realistic is to make $80k / mo profit with this kind of capital?
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6 May 2024 | 30 replies
To my knowledge security deposits are required to be in non-interest bearing accounts unless written approval from from the tenant.
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7 May 2024 | 16 replies
@Marc Delgado, outsourcing to India/Philippines/etc sounds super sexy and cost-efficient; and, it may be for non-REI businesses.
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7 May 2024 | 9 replies
So if something ever happens and the loan goes delinquent the only recourse is the subject property, but if the delinquent property is in an LLC with let's say 4 other properties then those assets are exposed to the LLC debt holder - if that makes sense.But they will ask to see personal liquidity all the time so they can feel comfortable with the payments being able to be made for 9 months.
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7 May 2024 | 2 replies
The home has no liens and is currently behind in property taxes by 1 six month payment which was due in February.
6 May 2024 | 62 replies
How quickly those "deals" become non-deals.Plenty of deals on the MLS.