2 August 2024 | 19 replies
You should be analyzing properties from Zillow to learn values & rents, to see what works.
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31 July 2024 | 53 replies
Sell, pocket $200k in equity, appreciation since they bought it, bank 25% for a new deposit in a year once they repair credit, buy two new second hand cars because they need them, pay off credit card debt, put a little extra to the side for increased rent payments for next 12 months, and reorganize to buy in 12-18 months... now they see the light, a chance to move forward, to not stress, and they're lucky the market increased so much... but if they struggle to keep it, struggle to make payments, then 10 months realize they need to sell, would they have as much equity, maybe, maybe not..
29 July 2024 | 4 replies
Found a realtor through a local (Houston TX) contact who helped her find a good tenant. I strongly believe in only hiring through verified contacts. That said, the realtor says he didn't have a contract with her and d...
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29 July 2024 | 3 replies
Our long-term plan is to eventually move out, rent both units, and buy a house of our own.
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29 July 2024 | 2 replies
Although the rental increase will be modest, I am considering waiting until April 2025 to send the renewal, which would then start on July 1, 2025.
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30 July 2024 | 9 replies
We have been very successful at increasing value for resell, but are ready to flip homes that we do not live in.
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1 August 2024 | 15 replies
@Brett Nissen what type of rent is the $125-175k price range getting?
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29 July 2024 | 21 replies
I don't think you get more rent in 99% of the cases and certainly not enough to pay for it.Also think about your exit strategy.
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1 August 2024 | 8 replies
Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.
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1 August 2024 | 6 replies
So you don't respond to the phone at all.Best practice: Send over the application and lease, the 3 day notice, bullet points on how it was served, the other unpaid rent for the second count, a check for the fee and ask when to be in court.