Lilia Matlov
Multi-family Residential Renovation and Restoration
29 December 2024 | 0 replies
Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000
Desiree Rejeili
Home Staging FAQ: What You Need To Know
2 January 2025 | 0 replies
Basic staging with an agent usually means they give you insight into how you should:Declutter and depersonalize by removing photos and personal itemsArrange your furniture to improve the room’s flow and make it feel biggerAdd plants, move art, or re-arrange other accessoriesFull-service staging is another option if your house needs more hands-on attention.
Gabe Chase
Best Amenity to Add?
30 December 2024 | 13 replies
Smart tech, such as fast Wi-Fi, streaming services, and keyless entry, consistently gets positive feedback, as do luxury bathroom additions like plush towels and rain showers.
Richard Bautista
Too good to be true to have connected with a real estate agent who has a whole team?
8 January 2025 | 29 replies
We offer many of the same services as this agent, but we have no problem with investors flying to Detroit to check things out - we actually prefer it!
Marquez Cadet
Repair Costs Using Home Warranties
30 December 2024 | 3 replies
Confirm that the warranty applies to the type of property you own and consider whether the annual cost and service call fees make sense compared to just handling repairs yourself or using your own trusted contractors.
Colleen A Levitt
DSCR out of a DSCR?
9 January 2025 | 15 replies
If the ARV has risen to $260k and you’re renting it out for $2900/month, you can likely qualify for a higher loan amount.Here are some key points to consider:Loan-to-Value (LTV): A typical DSCR refinance will allow you to borrow up to 75-80% of the property’s ARV, so for a $260k property, you might qualify for a loan of $195k to $208k, which could help pull out most or all of your original investment.Debt Service Coverage Ratio (DSCR): Since you're renting for $2900/month, the loan payment will need to be covered comfortably by that rent.
Chris Seveney
What is the Best Way to Grow as a Private Lender
13 January 2025 | 15 replies
Hired part time admin assistant and 1/4 time services of book keeping professional.
Kathy Fettke
How to go after Growth Equity Group-Brett Immel, Preston Despenas
6 January 2025 | 38 replies
And if not then why should an investor use your service at all?
Aaron Raffaelli
DSCR Loan for a first time REI
19 January 2025 | 18 replies
The primary requirement is that the expected rent would cover the mortgage on the home - and that expected rent is typically determined by a combination of the appraiser and some service like airdna (a site which determines fair market rent).
Alec Barnes
How Do You Ensure Quality Tenants?
9 January 2025 | 12 replies
I suggest using a service like Mayistay.