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19 February 2024 | 67 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.
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19 February 2024 | 11 replies
The last condo I had was in Bozeman MT and swore I would never do that again, but I’ve learned from that experience and my appetite has changed.
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19 February 2024 | 2 replies
(Im able to get into this thing for only 10K the cash on cash return is absurd from 37-56% (depending on closing paid and points i pay, its an 8% Cap, 350 cashflow (after variable expenses) Brand new.. seems like a decent first step but the functionality.. a Perfect nice 3/2/2 1400 sq pft per side is 575k , this one could be 365k if they accept my offer i sent last night)
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18 February 2024 | 8 replies
Furnished Finder has an area to pull this, but last time I checked, it didn't load.
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19 February 2024 | 5 replies
I have a YouTube channel I just posted a deal we are doing on if you search pink development you can see the lot. on my triplex I don't build a garage so every sq ft is appraisable. on my single family we have to build garages most of the time unless it's our micro home 700 sq ft that we sell for under 200k. the rent price / sq ft of SFR even smaller ones is maybe on average $1.70, on our 650 sq ft floorplan it's closer to $2.43 which is about 40% more efficient. supply and demand. very few multifamily built, higher appreciation, etc. most of the people who do them refinance why go through all that effort just to sell. appreciation in columbus last 3 years averages 8.65%. we only do this in 3 zip codes in columbus close to the urban core where new construction values are about a 15% or 20% premium and where there is already a lot of multifamily and it's easy to get them approved on an infill lot.
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19 February 2024 | 14 replies
I'm experienced in residential real estate but green when it comes to commercial investing...my brief research last night made me come to the conclusion that I can't afford a decent STNL property (was looking in the $2M range).
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19 February 2024 | 8 replies
I invest there myself quite a bit (just bought another duplex last week) and do a ton outside my own portfolio as well.Definitely take the time to understand the market or interview several teams before working with anyone.I'm happy to shoot you some Detroit specific resources that would help a ton.
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19 February 2024 | 18 replies
And if someone looks at a rental but they're not interested, ShowMojo will automatically notify them when a new rental comes on the market.Here are my statistics for last week:Answered 18 incoming phone callsAnswered 1 incoming text inquiriesAutomatically responded to 13 incoming email inquiriesCaptured 3 inquiries from the webCollected 22 new leadsScheduled 5 new showingsAvoided at least 3 no showsIn one month that comes to 90 calls, four text messages, 55 email inquiries, 12 web inquiries, 88 new leads, 20 new showings, and I avoided 12 no-shows.That's well worth $99 and this isn't even a busy month!
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19 February 2024 | 9 replies
It's possible you could find one but over the last 18 months DSCR lenders have switched to 12 months.
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19 February 2024 | 2 replies
By the way: you can prove continued use if there have been leases in place for the past 3 years, utilities on and paid for for the last 3 years as well.