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28 July 2024 | 15 replies
My first deal cash flowed $300 a month, and the second $500.
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29 July 2024 | 8 replies
I'm trying to BRRR and add value to cash out refi in 3-6 months to buy another.
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30 July 2024 | 11 replies
My advice for you (and my future self) so far is:- be very detailed about underwriting your deal- add at least 30% to what you think your rehab will cost (even if this figure came from a GC)- have a really detailed design concept before work starts (including fixtures/trim/color scheme/etc)- check with your city/township's building department and see what permits you need up front- have more than one exit strategy- add a few weeks/months to your projected timeline- purchase cash if at all possible- build relationships, take notes, and learn lessons along the way- have funGood luck!
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25 July 2024 | 5 replies
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?
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26 July 2024 | 8 replies
There were damages and loss of rent.One of the local utility companies verified there was no transfer of service.
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28 July 2024 | 12 replies
I've been a realtor for almost 6 months and am currently exploring real estate investing.
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28 July 2024 | 4 replies
If we put the home on the market we would lose at least a month rent and utility cost.Some background on the property is that we put 120k towards a down payment at 6.125%.
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29 July 2024 | 10 replies
What you would normally repair on one house, another house same repairs the owner flips out and cries you're spending their money.When we get tenants who get carried away with repair requests (like 1-2 a month is ridiculous IMO) we usually get on the phone with them, level with them and then tell them we can find a replacement in that apartment since they feel its so bad.
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28 July 2024 | 2 replies
Most rents in the area are around $1500 - $2,000 per month.
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26 July 2024 | 19 replies
It should only take you about a month or two to contact everyone on your list and then the tough part – you start all over again.Why the repetition?