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22 May 2019 | 8 replies
.$1,575/month or $2,175 when we move out and rent our apt.Expenses: Tenents pay all utilities except garbage.Insurance: $923.44 or $86.87/moGarbage: $40/moProperty Taxes: $236/moMortgage: $687.48Repairs & Maint: 12% since it's old, so $189/moVacancy: 5%, it's in a quiet neighborhood with great schools, so $79/moCapex: 5%, $79.$1,397.35Repairs:The roof looks good from the street, however it's about 15-20 years old so I expect to replace in 5 years or so.
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3 February 2017 | 6 replies
If you can and look up CA's probate code (if this property is near you), find out & look-up the probate case# to see what is happening (will, trust, intestate..) some places have set rules for minimum private bids executor can except etc.... search BP for Rick H. the probate guys post.
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4 February 2017 | 52 replies
He gave me a Jan-June 2016 rent roll (not certified), he showed the best 2 units and said they were all like that except for the tenant who has been there for 10 years as they haven't updated that one, he filled the last 2 of the 3 vacant units so it would be 95% occupied when I bought it, he was going to take care of the brick work in the back (seemed minor from a glance), and that he was selling this because his wife was pregnant and they were buying a house.
8 February 2017 | 15 replies
Each one is going to require many years of cultivating relationships, beating the pavement, digging through basements (except the doctor which is digging through body parts), saving every penny and driving a beater to slowly get making real money.
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5 February 2017 | 29 replies
Specifically with mailings, I would talk to your broker, let them know what you are looking to do and see what they suggest, they're the experts on advertising regulations ... and you may have signed something in your independent contractor agreement with the brokerage when it comes to advertising that will apply to no other agents on here except for those within your brokerage.
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2 February 2017 | 15 replies
Every year without exception, but I am in a rent control environment and have no other option if I want to stay current.
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27 April 2017 | 34 replies
When it comes to flooring if I am installing wood I always go pre finished, when your done your done.I have a guy that through the years I have fed so much work he always gives me a good bro deal on my drywall needs.Other than those two things and anything else that would require a licensed trade person to do, I do.If I am flipping my own residence which I have done every two years for the last twenty years, I do everything except the two items I hate.
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2 February 2017 | 15 replies
That is to say that I feel like I now need a rental that cash flows exceptionally well in order to cover the tax increase possibility.
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26 January 2018 | 106 replies
All the items you listed EXCEPT the last item (the 20% amount of the property) are closing costs.
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31 May 2018 | 3 replies
I'm looking to do long term rentals except i have no capitol so i've been digging into the brrrr method the last month using the same kinda strategies you mentioned: 100% funding and no seasoning for quick refi and able to pay back the on the fix flip.