
21 May 2024 | 21 replies
Getting pre-qualified up front is so key especially for international clients so they have a clear picture of their purchasing power and there are no hiccups when it comes to closing.

21 May 2024 | 25 replies
On the long-term rental side, I'm not exactly sure where your house is, but getting over $3,000 a month right now is for homes that are on the high end and in really nice neighborhoods.

22 May 2024 | 1 reply
I highly recommend Seller Financing - it is how I have bought most all of my properties.

22 May 2024 | 9 replies
Is this up to me to make sure I have a high end contractor to review and quote the property?

22 May 2024 | 10 replies
That high down payment of $100,000 also helps reduce the risk quite a bit since it gives you a good chunk of cash right away and reduces the loan amount your buyer needs.To get a clearer picture of your return on investment (ROI) and your annualized ROI (CAGR), let's break it down step-by-step.### Initial Calculations- **Initial investment:** You bought the house for $235,000.- **Sales price:** $315,000.- **Down payment received:** $100,000.### Loan Details (After Down Payment)- **Amount financed:** Sales price - down payment = $315,000 - $100,000 = $215,000.- **Monthly payment from buyer:** $1,394.49.- **Loan term:** 30 years (360 months).### Calculating Total Returns- **Total payments received over 30 years:** $1,394.49 x 360 = $501,816.40.- **Total amount received (including down payment):** $501,816.40 + $100,000 = $601,816.40.### Calculating ROI- **Total profit (not accounting for costs like maintenance, taxes, etc.):** Total amount received - initial investment = $601,816.40 - $235,000 = $366,816.40.- **ROI over 30 years:** ($366,816.40 / $235,000) x 100 = 156.09%.### Calculating Annualized ROI (CAGR)The formula for CAGR (Compound Annual Growth Rate) is:\[ CAGR = \left(\frac{Final\ Value}{Initial\ Value}\right)^{\frac{1}{Number\ of\ Years}} - 1 \]In your case:\[ CAGR = \left(\frac{\$601,816.40}{\$235,000}\right)^{\frac{1}{30}} - 1 \]Let's calculate this:\[ CAGR = \left(\frac{601816.40}{235000}\right)^{\frac{1}{30}} - 1 \]\[ CAGR = (2.56)^{\frac{1}{30}} - 1 \]\[ CAGR \approx 1.0303 - 1 \]\[ CAGR \approx 0.0303 \text{ or } 3.03\% \]This means your annualized return is about 3.03% each year over 30 years.

22 May 2024 | 3 replies
It was a battle getting them to agree to the Purchase price so I highly doubt they will budge lower, especially with closing scheduled soon.

20 May 2024 | 0 replies
Always do inspection and use for negotiating power as well as what needs fixed first.

22 May 2024 | 27 replies
Orlando just opened Brightline high speed railway (Miami-Orlando with 2 stops i believe).

22 May 2024 | 20 replies
And I'd highly recommend doing a once-per-year walkthrough of the property yourself, so you know the manager is working in your best interest.