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2 March 2024 | 3 replies
-joeNet CF from investment 1yr= Owners equity+Gain on sale in y1+ Total return from operations for that year.For years 3 and 5 add the principle reduction from the previous years and voila.Exit price(his estimated sale number)- total purchase price= gain.
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2 March 2024 | 21 replies
Also note that most states will not allow you to GC (or go Owner/Builder) on an investment property, only on your primary residence.
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2 March 2024 | 8 replies
(UNLESS OWNER OCCUPIED OR CAPITAL IMPROVEMENTS)If the land lord supplies heat, rent increase shall not exceed 4% otherwise don't exceed 3%.tenants 65 or older 2%new tenants increase can not exceed 5% over the last tenant's registered rentyou must provide a new tenant the previous rent amount in writing.you must apply to the city for each increase with 60 days notice, depending on the US department of housing and urban development for a unit of similar size.fines will be levied on a daily basis if in violation.
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2 March 2024 | 1 reply
What specifically did you do differently on this property transaction, than an owner-occupied property transaction?
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28 February 2024 | 3 replies
Do the rules for eviction give any advantage to the owner, if the owner also occupies the duplex at the time of the eviction ?
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1 March 2024 | 8 replies
I'm interested in investing in Idaho, but I have zero experience with Idaho taxes (or state income tax at all for that matter).Questions:I've heard that property taxes in Idaho are higher for out of state owners vs. residents (i.e. a house could cost $2K in annual taxes for a resident, but may be $3K for an out-of-state owner).
1 March 2024 | 6 replies
Unclear if the lien has expired, and if surplus funds would go to the COA According to the COA State laws i found this:Thelien is not effective 1 year after the claim of lien was recordedunless, within that time, an action to enforce the lien is commenced.The 1-year period is automatically extended for any length of timeduring which the association is prevented from filing a foreclosureaction by an automatic stay resulting from a bankruptcy petitionfiled by the parcel owner or anyother person claiming an interest in the parcel.
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1 March 2024 | 3 replies
The co-op is the one selling it since the original owner didn't pay their taxes the co-op became owners.
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2 March 2024 | 9 replies
Here's some info about what's happening in Metro Detroit recently, By the way, no one else is committed enough to gather & share this type of info about their marketplace with supporting proof.Volkswagen Scout Brand investing $11M in Detroit, 200 new jobshttps://www.teslarati.com/volkswagen-scout-11-million-detroit-investment/Hotel Added to Hudson Site, total over $1.4Bhttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/Detroit west side Dexter Neighborhood Receives $21.5Mhttps://www.clickondetroit.com/news/local/2023/11/01/neighborhood-on-detroits-west-side-receives-more-than-215m-in-investments/Norway’s Nel Hydron investing $400M, 517 new jobshttps://businessfacilities.com/nel-hydrogen-will-build-400m-gigafactory-in-southeast-michigan#:~:text=In%20Southeast%20Michigan-,Nel%20Hydrogen%20Will%20Build%20%24400M%20Gigafactory%20In%20Southeast%20Michigan,green%20hydrogen%20using%20electrolyzer%20technology.Chase invests $200M in Detroithttps://www.axios.com/2023/09/28/detroit-rebound-jp-morgan-investmentGilbert Foundation invests $439M in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-instituteBollinger Motors investing $44M, 237 new jobshttps://michauto.org/bollinger-motors-plans-44m-metro-detroit-investment/15 New Detroit Developments to Be Excited Abouthttps://www.metrotimes.com/detroit/15-new-detroit-developments-to-be-excited-about-photos/Slideshow/32734721/32735392BorgWarner Investing $20.6M, 186 new jobshttps://www.crainsdetroit.com/auto-suppliers/borgwarner-invest-206-million-create-186-jobs3 International Companies Choose Detroithttps://www.detroitregionalpartnership.com/international-investment-comes-to-detroit-region/District Detroit $1.5B Development, 12,000 temp jobs, 6,000 new jobshttps://www.detroitnews.com/story/business/2022/11/15/district-detroit-1-5b-development-to-include-housing-retail-hotels/69649853007/6 New Residential Developments in Detroithttps://detroitisit.com/6-new-residential-developments-in-detroit-to-know-about/$2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/$300M Huntington Place Renovations & New Detroit Hotel https://www.crainsdetroit.com/real-estate/huntington-place-renovations-new-hotel-deal-reachedYou'll also want to be careful about falling for the misleading "let me help you by sharing my story" posts of members like Joseph Bui, who are really just trying to entice you to contact them so they can sell you properties.We are very open that we're here to get people interested in our Detroit market to do win-win transactions:)