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11 December 2024 | 10 replies
Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it.
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18 December 2024 | 3 replies
The only development left for this part of the project is to add a new 12-story sewer interceptor to the tunnel, with completion set for 2025, at which point the plans for a new mixed-use community can go forward at the Robinson Terminal long abandoned warehouse, where the infrastructure connecting the tunnel to the river has been taking place.There is no doubt that the Potomac River turning swimmable and fishable, along with the already spectacular views, that properties and activities along the waterfront will become much more attractive to locals and tourists.
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11 December 2024 | 6 replies
@Grayson Chao look up WAREI on Facebook as that is a big active group of local investors and a number of meetups get advertised there.
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9 December 2024 | 9 replies
I am actively looking to expand throughout the Caribbean.
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5 December 2024 | 4 replies
It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.
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19 December 2024 | 22 replies
If your realtor is listing it for free and not helping, that's not much help since leaving you to screen tenants and run through leads is like asking you to perform knee surgery, you don't know what you are doing.All rental listings should get bombarded on Zillow Rental Manager and HotPads, etc in the first week so if you have limited activity, your price is either too high or the photos are bad and the copy about the place is bad.Use something like RentSpree from screening.
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4 January 2025 | 67 replies
I might get some activities out of time sequence.
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9 December 2024 | 8 replies
Greenfield is a growing area, and being in a golf course neighborhood across two lots adds a ton of value to your options.I’d recommend starting by connecting with local investor groups or meetups in Indianapolis—Facebook groups or here on BiggerPockets are solid places to find people actively working in that market.
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11 December 2024 | 4 replies
Fastest way to learn is by networking with people who are actively doing what you want to be doing in the future
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11 December 2024 | 6 replies
.- Get a list of active properties in a zipcode with filters (number of bedrooms, bathrooms, price etc)