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9 August 2024 | 16 replies
The family loves the resort so we want to hold 25% but my expertise in hands on renos and management would provide a higher ROI.
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12 August 2024 | 8 replies
But I have been looking into splitting the duplex into two condos (yes I know it is a lot of work) and I could probably get 325-350k for each, netting me 650-700k.Number:* Mortgage interest 2.5%* Mortgage principle 240k* PITI $2100/month* Rent 2200/month (current tenant on a two year lease)* Potential rent on my side $2400/month * 100k HELOC at 11% (fixed) (not currently being used)* est additional cost to split the dueplex 75-100k (conservative, probably less) *new siding 30k (just put on a new roof this year) *legal 10-15k *fire proofing 15k * 15-40k for stuff I am not aware of or underestimated on* some of the appreciation is external from the home *big grocery store put in 3min away * newly paved road in front of my house *a building that was falling down across the street has been torn down * Still a vacant lot with the foundation exposed and fencing around it (so more local improvements are on the way)Part of me wants to take the money and run but man I love that 2.5% interest rate and the $2000/month cash flow (including taxes and capx)I have thought about 1031 exchanging into more rentals, but I would like to pivot into storage units.
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12 August 2024 | 5 replies
Not necessarily land, as it is very costly to build there as all materials except for some concrete products have to be shipped in.
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11 August 2024 | 7 replies
What do the leads cost, are they worth it?
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9 August 2024 | 0 replies
Expect total cost to be ~350K per duplex and bring in 3-3.2K/month rent.
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11 August 2024 | 0 replies
I work with CSSI who are the nation's premier engineer-based cost segregation firm with over 45k is completed studies.
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9 August 2024 | 5 replies
In high cost areas, it may be virtually impossible to cashflow/hit the 1% rule today.
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8 August 2024 | 46 replies
Recently, my property manager informed me that an HVAC unit needs to be replaced, which will cost $7,200.
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11 August 2024 | 3 replies
Boxabl acknowledges SEC inquiry in updated filing | Business Insider India its a double whammy start up and trying to sell in a very tough interest rate environment. along with inflation and cost of components to the point their 50k to 60k box probably cost them quite a bit more to produce than what they were going to sell it for.
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12 August 2024 | 4 replies
I know with a house hack it would cost less upfront to start but will guarantee a negative cashflow the first year.