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5 March 2024 | 27 replies
The units without mortgages typically net $10-12k annually and the units with mortgages net about 1/2 that.
6 March 2024 | 19 replies
Out west and midwest are typically Non Judicial, that means they don't have to go to court to foreclose.
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6 March 2024 | 5 replies
When you get the final bill, send the 2nd payment to the tenant (minus any amount for the water utility pro-ration) and a revised security deposit claim form.
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7 March 2024 | 6 replies
Typically 30Y fixed, refi into an LLC, low doc loans that don't report on your credit.
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6 March 2024 | 11 replies
: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+, 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, 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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5 March 2024 | 9 replies
For STRs, the typical options that you'll see utilized are conventional, second home (if you plan to occupy the property for more than 14 days but less than 180), or DSCR.
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6 March 2024 | 5 replies
Is a project manager typically a choice to do instead of a general contractor?
6 March 2024 | 0 replies
The majority of taxpayers are required to settle their tax dues by April 18 to avoid penalties and interest accruing on any outstanding amounts after this date.For those residing in Maine and Massachusetts, the deadline is extended to April 19 due to the Patriots' Day holiday in these states.How to Request an ExtensionIf you find yourself in need of an extension, the IRS provides convenient options to make the process smoother:File Form 4868:Utilize your tax professional, tax software, or the IRS Free File platform on IRS.gov to submit Form 4868.Individual taxpayers, regardless of income, can leverage Free File for an automatic extension request.Electronic Payment Method:Make an electronic payment using Direct Pay, Electronic Federal Tax Payment System, or debit/credit card or digital wallet.When selecting the payment type, indicate it's for an extension.
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5 March 2024 | 10 replies
If you do increase rents, I recommend explaining this is due to rising costs of owning & maintaining property such as utilities, property taxes, contractors, etc.
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6 March 2024 | 3 replies
When I say property type I am specifically referring to knowing the size of the park you want, what utility configurations you are willing to deal with, TOHs vs POHs etc.c.