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20 January 2025 | 7 replies
I am curious to learn from others as well :)
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20 January 2025 | 2 replies
Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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22 January 2025 | 4 replies
This is a great place to learn and to connect with people so take advantage of all the great resources.
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17 January 2025 | 19 replies
I'm not currently at the phase of transitioning into a home builder, more trying to learn the steps of how to better set myself up for success.
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29 January 2025 | 14 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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21 January 2025 | 5 replies
I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.
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28 January 2025 | 9 replies
If you're running a fix & flip business, you'll eventually want to learn how to estimate repairs and independently prepare a scope of work.
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12 February 2025 | 20 replies
So when you hire that able handyman and give him keys to all of the apartments and the security codes without learning that he is 90 days out of prison for breaking and entering and committing assault and kidnapping your umbrella coverage may not help.And, these days, a million dollars of coverage will deal with the contents of a small truck that you sideswipe and it bounces around a little with the electronics inside.
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17 January 2025 | 4 replies
I am currently trying to learn as much as possible by reading books and listening to podcasts.