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13 June 2024 | 16 replies
In their favor:As homeowners and landlords they should be more reasonable and take better care of the place.Steady income with SSI and willing to hustle when they need more.They are motivated to make it work, offering more and reasonable concessions.If there is no carpet there would be less impact by dog or bed bugs, if either go worst case scenario.Not in their favor:They may be renting as a temporary situation until they can find where they really want to live long term, so they may not be a long term tenant.They are not familiar with the neighborhood, other than school district quality, so they may not be a long term tenant.What I would look at more:How long have they all lived at previous addresses?
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13 June 2024 | 3 replies
This is a great website that should definitely be utilized.Electronic Locks / Lockbox - Day 1, I have a handyman set up electronic locks on the front and back of the property and set up a lockbox on the premises for contractors.Welcome Letter - Day 1, I provide the welcome letter going over the new ownership and any other applicable information.
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14 June 2024 | 7 replies
Looking back on them, they are mostly all geared towards using OPM and how to market for notes and a very high level of getting into notes.
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14 June 2024 | 1 reply
The high rate of electric vehicle charging installation and solar installations are making these kinds of electrical parts hard to find.
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15 June 2024 | 6 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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14 June 2024 | 7 replies
It is highly advised to keep learning continuously as the real estate industry is constantly evolving, and staying updated is crucial.
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14 June 2024 | 0 replies
Any feedback on this deal is highly welcomed.
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14 June 2024 | 8 replies
If you don't already own a primary residence, I highly recommend researching the investment strategy of house hacking.
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13 June 2024 | 10 replies
Neighborhood quality can vary street to street in some areas and there can also be stark differences in tax rates and city ordinances in some suburbs.