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23 August 2024 | 4 replies
Thanks,Hey Joel,If you are tight on PITI, then I usually recommend looking into an interest only loan, maybe on a 5-10 year IO plan, to lower your payment and see if you can squeeze it in.Plus, rates are starting to dip a little bit, so it makes it a little more doable, especially if you just do a rate and term refinance to help keep your rate lower.
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21 August 2024 | 4 replies
If you can find a deal that cash flows decently now, I do think we'll start to see 3%+ per year organic rent growth again sometime in the next 2-4 years, since new construction starts have been very low the past 2 years so new supply coming online is going to drop a lot in the coming years.
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21 August 2024 | 15 replies
Hey @Debbie Palmer, so I am with @John Underwood on calling.https://www.loganutah.gov/government/departments/community_d...There are several folks listed on that site that should be able to advise.I will say that she will essentially need to clear out all her personal and important things.
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22 August 2024 | 2 replies
I am wondering if this is a reflection of a shift in our rental market or if others out there are finding the data is skewed high on that platform.
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21 August 2024 | 30 replies
$120/SF with permits for low-mid quality$125/SF for mid-quality$150/SF for mid-high quality
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24 August 2024 | 5 replies
You are wasting your time and theirs by running applications when they don't even know if the house will work for them.I recommend you include some of your key qualification criteria in the advertisement.
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22 August 2024 | 21 replies
@Travis B. can you recommend other PM firms in Detroit for those who aren't buying properties with or through you?
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23 August 2024 | 4 replies
For actually transferring to the LLC, I have been recommended against it multiple times from people and a lawyer in town.
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17 August 2024 | 7 replies
If you want to check on the property every few weeks you can but a good PM can do everything you need without strings attached that a partner would do thanks for tip!
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23 August 2024 | 4 replies
The IRS requires that the entity that completed the 1031 exchange (in this case, the LLC) remains the owner to avoid triggering capital gains taxes.One approach might be to hold the property in the LLC for a period (generally recommended at least a year) to demonstrate intent to hold it as an investment.