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10 June 2024 | 25 replies
Seems like the vast majority of owners interacting on this and other platforms are from the Smokey Mountains or FL.
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13 June 2024 | 20 replies
I don't think he has a one on one approach. the little bit of consulting I have done the vast majority was to raise money for my heroshome charity .. where myself and a few other BP members raised 200k to buy a home in Memphis that Chris Clothier curated and we gave away to a hero..
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10 June 2024 | 11 replies
Let's say your current home has a conventional loan, FHA could be an option but you have to be aware of the self-sufficiency test requirements for anything over a duplex.
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11 June 2024 | 116 replies
Too many of you are not sufficient to truly be investing.2) Learn what your goal is with investing-- if it's "financial freedom" realize that'll take 15 years plus, at least, or a massive windfall/luck.
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10 June 2024 | 6 replies
Make sure property is “self supporting” meaning sufficient income to produce some cash flow after operating expenses and debt is paid.If one does that, they are set up for a profitable long term hold.If one invests in a prudent manner and is never in a position where they have to sell, they ultimately win.The top or bottom of a market is never known until 6 to 12 months after the fact.I’m a long term investor - my capital is patient.Here’s a question to ponder:If you could buy a property today for $1M, knowing it’s value would drop to $950,000 over the next year but would be worth $1.5M in 5 years, would you buy it today or hope to perfectly time the market and get at $950,000?
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9 June 2024 | 8 replies
"for $___/year, we provide "x" additional inspections")6) Liability policy that covers tenant intentional damage, criminal acts, and unpaid rent when skipped or evicted (through insurance provider that provides this kind of coverage)7) Financial reports per quarter (as whatever period makes sense to you) (this can allow you to advise the owner on the health of their portfolio)8) End-of-year review of the property to show conditions and suggested needed and preventative maintenance items 9) Preferred vendor discounts (requires a contract with a vendor to give better pricing)10) Eviction protection programs (this is usually done "in house" when you have sufficient number of units under your management to be able to offer this kind of program)11) Legal services (requires agreement with landlord attorney to provide those services at set fees)12) Professional photos option (for enhanced listing)13) Professional, licensed home inspection (this is more relevant for older homes to ensure safety and habitability are addressed) 14) HVAC filter replacement program (this can also be a program offered to tenants)15) Pet and ESA screening through pet screening vendor (helps to streamline and increase quality of screening)16) Client portal account for ease of communication, updates, reports, etc.
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8 June 2024 | 0 replies
North Broward Area (Undergoing Gentrification)Type: Triplex Units: Two /1-bedroom units Current Rent: $1,500 per unit, month-to-month leases Tenant Quality: Great tenants, familiar with the neighborhood, payments made regularly with sufficient funds Potential Rent Increase: Neighborhood improvements and upcoming developments suggest potential rental rates could rise to $1,800 - $2,200 within the next two years Upcoming Development: A new $2.2 million road is being constructed in the cityCurrent Market Value: $680,000Current Cash Flow: $1,500 per unit, 3 units totaling $4,500 per month Condition: Needs some work Price: $435 ,000This property is a prime investment opportunity in an area poised for significant growth and appreciation.What do you think?
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7 June 2024 | 11 replies
The vast majority go right in the trash, but I have a $5M listing under contract right now that came from a postcard that the seller kept for 3 years before calling me!
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7 June 2024 | 0 replies
The main challenge was ensuring these updates were sufficient to attract buyers.
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7 June 2024 | 5 replies
The location defines all long-term income characteristics, including whether your rents keep pace with inflation, the total capital required to acquire sufficient properties to maintain your standard of living, and how long your income will last.There is a straightforward location selection process.