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1 November 2018 | 1 reply
I imagine finding a local contractor in the area that could do it would be a start but haven't had much luck populating that list with candidates.Any advice/input on other ways I can find candidates or types of companies/services to look into would be very helpful.These properties are in Ohio not DC btw.Thanks!
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20 November 2018 | 13 replies
That is a difficult thing to achieve and if you want to wait until you have that type of market knowledge you might end up not investing out of state.My two cents would be the following: make it a point to schedule regular visits to your target market.
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8 November 2018 | 5 replies
We are considering long-distance investing for Airbnb or for a regular rental.
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6 December 2018 | 11 replies
If they can make 3 grand on a deal on the side of their regular job, then that was a good month for them.
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1 November 2018 | 0 replies
Does anyone have a good property manager in Baltimore City who will service an attached house in the 21206 area code?
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2 November 2018 | 15 replies
It's not that I've never met a competent buyer's agent, it's that I believe that the service they provide doesn't match what they cost, especially in this day and age where all the neighborhood metrics, comps, etc can all be found online.In terms of getting a license, I have a day job that consumes most of my time.
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12 November 2018 | 41 replies
With your 42 Airbnb’s that you are cleaning, might you also be able to provide other services to the guests?
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24 May 2019 | 10 replies
Feel free to PM me if you'd like to discuss this further.At the very least, just remember a real estate investment is only worth what it rents for.Yours in Service,Lanny
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3 November 2018 | 3 replies
One big thing would be to urge myself to talk to a full-service CPA firm either before or immediately upon acquiring the first rental.
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2 November 2018 | 2 replies
I'm planning to turn at least one of the 1/1's into a vacation rental which should earn at least 1200/mo (very conservative estimate, probably higher).Purchase price: 295,000Down payment: 25%, $73,750Loan term: 30 yearsInterest rate: 5.375%P&I: $1238.94/moClosing costs: $2800Gross scheduled income: currently $2650/mo, I'm planning on $3000/mo minimum with STR, so $36,000/yearLess Vacancy/Repairs: 10% = $3600*Gross Operating Income: $32,400Less taxes ($4700 (high estimate)), Insurance ($900), and Water/Sewer ($1800): $7400Net Operating Income: $25,000Less Debt Service: $14,867Before Tax Cash Flow: $10,133CAP rate: 8.47%COC: 13.24%*yes, I know that's low for Vacancy/Repairs/CapEx, thats because we do our own work and management.