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1 July 2024 | 9 replies
I actually just did a dscr loan to pay off the hard money I borrowed on the second property (where we live and rent the actual house) I estimate the appraisal to come in around $215-280K which if I were to take out 80% would barley give me enough to buy anything in the FL market and have cash left over for renovations.Not sure if im missing a step here or if it might be best to buy an auction home with that cash to flip and have more capital to have more deal options.
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30 June 2024 | 6 replies
We don't want to hand it over to the ones we did not like, as it may become more of a headache.If someone could advice what can be done next, would really appreciate it, feels like our options exhausted, but i don't want for the house just hang in there, eating interest.
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30 June 2024 | 9 replies
I'd encourage you to keep metrics on everything so that you can see your KPI's evolve over time.
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29 June 2024 | 7 replies
I'd say the PM you talk to doesn't spend much time talking to their customers ... this is a nightmare for me every year.
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1 July 2024 | 13 replies
We do have STr insurance and I suggest anybody get it even if you rely on Aircover, Aircover can be screw you over. 2.
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28 June 2024 | 12 replies
By having only one partner you'll have better control over the asset.
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1 July 2024 | 6 replies
We’re one of the few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must = 3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedCredit HistoryMany companies use credit summaries, but we find these rarely tell the whole credit story.
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30 June 2024 | 28 replies
Cleveland and the burbs have tripled, quadrupled or much more over the last 10 years on top of the 25- 35% net caps.
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30 June 2024 | 2 replies
Typically, when evaluating and underwriting deals, we do not project a 100% occupancy rate to avoid overly optimistic forecasts that might result in negative carry post-acquisition.
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30 June 2024 | 1 reply
"Going to a classroom won't change anything unless the student takes ownership of their learning experience" would be something one of my professors would say and he encouraged us to be lifelong learners emphasizing the idea to continue reading books after college was over for us.