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18 May 2024 | 5 replies
We are converting the laundry room into a fourth bedroom, and I'm not sure what to do about the flooring.
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22 May 2024 | 13 replies
After one summer of STRs I came back in the winter took a first lean mortgage on the property to replace the roof (and build my RV which I plan on living in while renting in the summer).
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22 May 2024 | 1 reply
If you plan on using any type of financing tread lightly.
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21 May 2024 | 2 replies
Hello,Does the Pro membership come with the audiobook perks of the Audio plan?
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23 May 2024 | 11 replies
Just having things out on the sink without an "anchor" like a dish or basket makes it seem like they are junk when in actually it is very well planned out.
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21 May 2024 | 48 replies
I just got 950 for a 2br top floor duplex. 800 for a 1 br in EAST Clev.
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21 May 2024 | 0 replies
I plan on focusing on cold calling, mailers, PPC ads.
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20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
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22 May 2024 | 6 replies
While my home is new, I'd like to maintain it well, and I plan to do this with all of my properties because I like taking care of my possessions.
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22 May 2024 | 9 replies
Decide on your readiness financially and risk tolerance before developing an investment plan that is comprehensive but is able to grow into a long term wealth purpose.Good luck!