
1 December 2024 | 9 replies
@Michael Anderson If the property had been sold, it would make sense to formally assign the lease and deposit to the new owner and memorialize an agreement to collect and adjust rents after settlement, indemnify the other party for things arising during their respective ownership periods, etc.

30 November 2024 | 2 replies
Collecting data nationwide would be a difficult undertaking.

2 December 2024 | 35 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

28 November 2024 | 5 replies
You can also go straight to the source - Direct DSCR Lenders - don't necessarily need a mortgage broker to shop for you (especially if you are here and asking the right questions and clearly are sophisticated - unless you are SUper-strapped for time, you don't seem like an investor that needs to pay a broker for help - go straight to the lender)3) Last question- i'm seeing rates on DSCR loans in the 7.2% to 7.5% range, in addition to 1 to 2 points and they likely track 10 yr treasuries (4.26% as of today).
28 November 2024 | 3 replies
Collecting 2-4 rents for 1 property tends to offset taxes more favorably.

1 December 2024 | 4 replies
@Megan Mason recommend you watch some of the videos from @James Wise youtube channel on S8 evictions.We've been dealing with S8 tenants for over 20 years and they are NOT a cure-all for rent collection challenges.Since rents in Class A & B areas exceed S8 limits, most of your S8 rentals are going to be in Class C/D areas.

28 November 2024 | 13 replies
My monthly fees are as follows (handyman inspection $125, Cleaning $270 a turn (I collect this from guest), TAT&GET (collected from guest) Property Taxes, Insurance (I highly recommend you price this out, with hazard I pay $1,200 a year), internet/cable $100, Electricity $300 a month, AOAO dues $900 (association fees are increasing minimum 5% a year).

4 December 2024 | 18 replies
My research guided me to form an LLC to hold the properties during repair/rehab (I am buying properties that need major fixing) and move them to another LLC where I will be collecting rent.

26 November 2024 | 21 replies
I can be relatively sophisticated in Excel to handle something like this.I'm sure there's a million posts about this but would be happy to hear your POV on vrbo vs airbnb.

28 November 2024 | 1 reply
So if you can collect rents into your business either by deeding the properties to your LLC (be careful of the due on sale clause on your mortgages) or by signing a master lease between you and your LLC and having the LLC sublet then that may help.