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20 April 2024 | 6 replies
Hello,I have 10+ buy and hold properties and I’m trying to decide should I hire an Accountant or a CPA?
21 April 2024 | 29 replies
Some rough numbers , Price $520K add 15K closing = $535k New windows and siding $40K = $575k overgrown lot and landscaping $5k =$580K Kitchen , bathrooms , paint , flooring $60k ( on the low end) New deck it was rotten $20K They are now in at $660K This doesnt include holding costs and what ever I missed .
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18 April 2024 | 6 replies
The current owners gutted the inside down to the support walls.
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17 April 2024 | 4 replies
We purchased 40 acres lot that is very closed to a lake in Idaho. We wanted to build a cabin for us but learned there is nothing and off grid so it has been sitting there for last three years and paying the property ...
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17 April 2024 | 2 replies
I'm reaching out today because I find myself at a crossroads in life and could use some guidance and support from this amazing community.A little background on my journey: I've been through some ups and downs, starting as a mailman and later transitioning into a CDL driver.
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18 April 2024 | 1 reply
MiSTRA - the newly formed Michigan Short-Term Rental Association, does not support these bills as currently written and testified against it - we did a good job to be balanced and offered some ideas for improvements that could be much more favorable.
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17 April 2024 | 5 replies
Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.
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19 April 2024 | 9 replies
Please feel free provide your thoughts and advise.Thanks in Advance Hello Ahamed - You mention SFR and 2 cities, but to give you better answers, can you please explain your top priorities for the investment and the anticipated holding period?
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19 April 2024 | 9 replies
I have 2 other rentals that ideally can subsidize this, so, would I be better off holding onto it for the long haul and evening out eventually, or selling the property and getting something else?
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19 April 2024 | 5 replies
Primarily buy and hold SFR.