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30 December 2024 | 14 replies
I'm looking around to find some investors to take it from me and just feel a little lost with dispo, i want to make my deals super sweet sugar coated cherry on top for all my investors on my list so what i ask is if you can rip apart this deal for me and make sure i have enough meat on the bone for my investors, below are the statsFirst off address, 1011 Richard Bell Ave Perry FLPurchase price $110,000Seller says the bank is willing to let go of mortgage for $91,000ARV $180,000-$200,000Needs new roof (20 years old) and central ac system went down about a year ago (around 4k for 3 ton ac)Ive been in roofing for about 2 years and im estimating the roof will cost between 18k-20kI take constructive and negative criticism very well and i only want to improve, no opinions are unwelcome i want full scrutiny with this deal please.
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2 January 2025 | 6 replies
I am also in Cincinnati and I did speak with True Home Ohio (https://truehomeohio.com) and they seemed to be somewhat reasonable except I believe they take a flat fee of $105 per door so depending on how much rent is for that door it could be cheaper or more expensive but their other fees I thought were very reasonable.
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7 January 2025 | 16 replies
Please note I am not speaking about Grant Cardone from any first hand knowledge.
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12 January 2025 | 185 replies
Sure there’s some truth to it and you hear a lot of people say it, but it’s pejorative and negative.
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2 January 2025 | 53 replies
Alternatively you could sell at a loss and stop the bleeding so to speak.
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15 January 2025 | 24 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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14 January 2025 | 25 replies
My guess is that if it is a STR, they probably don't want them either and it would be more work for them to take them.Generally speaking, I like to put my own touch on everything.
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30 December 2024 | 11 replies
It's been less of an issue with my first two properties which cashflow at 3% interest rates, but the latest unit is cash flow negative on a 7% interest rate.
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14 January 2025 | 329 replies
I also read forbearance negatively affects your ability to buy more property.
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30 December 2024 | 2 replies
yes, but it's much more difficult. you're just not going to cash flow after you refinance - you might even be slightly negative.