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5 December 2024 | 37 replies
$500,000 after taxes is likely close to $325,000(maybe more or maybe less).Assuming cash-flow from rentals is offset by depreciation, you would need $325,000 of annual cash-flow from the rentals.If you can get $200 / door / monthYou would need 135 doorsYou can work on this type of math to figure out how much rentals you need.Be mindful that rentals require some type of work.
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4 December 2024 | 3 replies
.- Most cities do NOT care if an owner lives in basement, but will not allow a tenant to unless baement has legal egress window.3) Check local statutes if any limitations on how many unrelated roommates are allowed.4) Check with local building dept to see if rental inspections and corresponding requirements.5) Local statutes allow locks on bedroom doors?
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3 December 2024 | 1 reply
What do other property managers consider, actually do, or add to their tenant screening criteria to cover retirees?
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12 December 2024 | 19 replies
As she opened the door, she explained to my wife that the entire unit was full of water.
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9 December 2024 | 24 replies
Did you check a next door comp that just went into contract?
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25 November 2024 | 5 replies
Does the basement have a separate entrance and egress windows?
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3 December 2024 | 1 reply
Proceeds could be reinvested in better-performing assets across multiple doors.Our goal is to build appreciation over cash flow, acquiring 1-4 doors/year to allow my wife to retire by 50.
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11 December 2024 | 101 replies
From there, it's a comfortable drive on the highway, which will take you a conservative maximum of 2 hours door to door.
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5 December 2024 | 7 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.
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1 December 2024 | 134 replies
Occasionally you can knock on the door and tenant will let you in, or maybe even the owner, but that is probably more rare.