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Results (10,000+)
Hannah Joy Overextending? Need advice from the old timers
18 April 2024 | 26 replies
Property 1: 276k balance, 450k BPO, monthly cash flow average $500 Property 2: 376k balance, 700k BPO, monthly cash flow average $450Property 3: 420k balance, 650 BPO pre garage, monthly cash flow $550 once garage is done Potential purchase: 375k purchase, 75 down payment, 3 units, currently rented.
David John Forliti Conflicting information on 2BR/3BR vs larger houses
18 April 2024 | 14 replies
Do your due diligence but do not get stuck in analysis paralysis.Lastly, these online calculator are a good guesstimate but it is skewed with bad managers not effectively reaching the potential of a property So dig a little deeper into the high performers in the area to figure out what the rate should be and what they offer.
Emily Wolters Multi family house hacking.
18 April 2024 | 11 replies
Since MFHs are primarily targeted towards investors, this narrows down the potential pool of buyers.
Bud Crandall Here to learn
17 April 2024 | 2 replies
This could involve budgeting strategies, saving goals, and even potential investments for the future.
Robert Mendenhall How to Analyze an Owner Occupied Duplex
18 April 2024 | 6 replies
If the market is great and has future growth potential expect to pay a premium.
Christian Pancake How Important is Off Street Parking/
17 April 2024 | 2 replies
I agree with @Erin Spradlin - I think if you can confirm/convince potential tenants that there is plenty of on street parking it is not an issue, but if it is in a busy neighborhood where finding parking could be difficult I think adding the parking area would help a lot.
Beth Anderson Is it smart to buy a house hack that we couldn't afford without the rental income?
18 April 2024 | 18 replies
You should also consider whether the property has the potential for value appreciation or renovations that could boost your rental earnings.
Jonathan Small How to account income from multiple properties on a single 1099
17 April 2024 | 6 replies
As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.
Robert Zajac Questions/concerns about normal PM fees/expectations for Cleveland Ohio
18 April 2024 | 12 replies
More details/example fees: Management Fee: 10% of gross rent collected, $50 minimum per unit.Leasing: One full month’s rent upon execution of a leaseOther: 10% will be added to each invoice for any repairs, maintenance, improvements, landscaping, and snowremoval for the Property 50% of late fees collected $50 lease Renewal Fee $50 per utility turn on $25 posting 3 day notice $100 per court appearance witness fee $50 tenant removal with bailiff or police $50 to meet inspectors for housing voucher programs, occupancy certifications, and/or POS or rentalinspections Broker may charge to offset Broker expenses for postage, key copies and other misc. expenses $100 set up fee $120 annual consortium fee ($60 March 1st, $60 Sept 1St)Given all this, how do I input it when I'm making calculations for a potential investment (do I put this in as >10% like 12%, 15% or 20%?
Sam Kahl Checklist for Buying Tenant Occupied Properties
17 April 2024 | 1 reply
Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.