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15 September 2024 | 0 replies
Market in a MinuteEast Tennessee home sales increased 5.2% from the previous month, and increased 9.3% from a year ago.The median sale price was $374,950 — up 7.13% from the previous year.Total housing inventory increased from the previous year – up 43.2% from a year ago.Half of the homes sold were under contract in 15 days or less, up from 9 days a year ago.44.61% of homes sold for the asking price or above, with 23.72% selling for more than the asking price. 10.32% sold for at least $10,000 over asking and 4% sold for at least $25,000 over asking.The sale-to-list price ratio decreased from last month to 98% – down from 98.6% a year ago.New construction represented 13.28% of total home sales.If you want to nerd out on the market here I'm always happy to chat.
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9 September 2024 | 6 replies
There is one roofing company I trust but they don't do repairs.There's also the fact that this property is expensive and I think these roofers show up and immediately see dollar signs.
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15 September 2024 | 4 replies
It just opens the door up for problems and these problems could sink you if you are over leveraged.
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16 September 2024 | 13 replies
Rate will definitely be higher and you may fighting an up hill battle when it comes to DSCR.
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16 September 2024 | 7 replies
We have submitted fair offers considering the condition of the property (sellers don't keep up with the maintenace and repair as they should, for a property that they are going to lose and get no money only some debt relief.)
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12 September 2024 | 9 replies
You need to get a quote from a local handyman or contractor.Not sure about every state, but in the states where I invest - If you do the work yourself you can only deduct the cost of materials.
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11 September 2024 | 3 replies
Happy to meet up and talk shop with you.
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10 September 2024 | 29 replies
I was reading it my head as a capital improvement, that would then get deprecated.All costs are added up to the cost basis then when you sell the inventory, the difference will be your profit.
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13 September 2024 | 4 replies
What's more, you're a beginner and expect a private lender to lend you the down payment and closing costs, so you can get a loan to finance the rest?
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12 September 2024 | 7 replies
Just leave things alone.If you don't deed it to the LLC, then it's a useless LLC costing you fees for no reason.