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9 June 2024 | 40 replies
Single family would be easy to sell providing its kept in good living condition but isn't nearly as lucrative as an apartment complex.
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9 June 2024 | 14 replies
As for other potential challenges, keeping the layout consistent and dealing with any uneven subflooring might be things to watch out for.I've had a similar experience with a project like this, and I found that using this comparison site really helped me find affordable service options.
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8 June 2024 | 1 reply
If there is any value I can provide in return even as an amateur, please let me know!
10 June 2024 | 20 replies
Some properties, especially those with Accessory Dwelling Units (ADUs), provide opportunity to break even or cashflow with lower down payments.Out of state (as well as Upstate NY) investing is appealing when taking this all into consideration.
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8 June 2024 | 37 replies
The 25% of RE still owned is in effect purchased at 40% discount allowing cash flow and full extraction of investment providing infinite return.
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5 June 2024 | 3 replies
Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?
8 June 2024 | 6 replies
Of course ex wants the ZestimateAppraiser came by a year ago and didnt ask for any HOA financials (said none provided in report) and said any visible issues would only resort in a “cure cost” factored in the value.
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6 June 2024 | 19 replies
TFor a full service cost seg study, reach out to these 3 firms, in any order: @Bernard Reisz (ReSure), @Yonah Weiss (Madison SPEC) and @Julio Gonzalez (Engineered Tax Services).For DIY - read this post: https://www.biggerpockets.com/forums/51/topics/1136752-expla...
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10 June 2024 | 12 replies
I think DSCR Loans are definitely in your future as you continue to grow your portfolio but probably not the best fit here:-Can strictly not use DSCR for any property you live in - would technically be possible if you moved out, leased up the unit you are currently in and provided good documentation that its legit - but this is a firm non-starter for DSCR (absolutely no occupying the property)-DSCR Rates at best are in the sixes on a cash-out refinance - so you would be doubling your interest rate at least on the current property - which could make sense but its a pretty high hurdle.