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11 June 2024 | 7 replies
Thanks @Johnny MartinMy suggestion is to partner with a like minded person... and preferably someone like a family member who really knows you... a dad... an uncle, etc that understands the value of passive investing.
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9 June 2024 | 4 replies
Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
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11 June 2024 | 18 replies
I got 80k off of 100k value.
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10 June 2024 | 2 replies
Who will write a $70-$100k cash value policy on this building and what should it cost?
10 June 2024 | 8 replies
You also need to account for what you want to make on the deal...After Repair Value * (1 - ROI) - your markup - repairsROI is what you want the investor to make (really, what they expect to make).
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9 June 2024 | 8 replies
"for $___/year, we provide "x" additional inspections")6) Liability policy that covers tenant intentional damage, criminal acts, and unpaid rent when skipped or evicted (through insurance provider that provides this kind of coverage)7) Financial reports per quarter (as whatever period makes sense to you) (this can allow you to advise the owner on the health of their portfolio)8) End-of-year review of the property to show conditions and suggested needed and preventative maintenance items 9) Preferred vendor discounts (requires a contract with a vendor to give better pricing)10) Eviction protection programs (this is usually done "in house" when you have sufficient number of units under your management to be able to offer this kind of program)11) Legal services (requires agreement with landlord attorney to provide those services at set fees)12) Professional photos option (for enhanced listing)13) Professional, licensed home inspection (this is more relevant for older homes to ensure safety and habitability are addressed) 14) HVAC filter replacement program (this can also be a program offered to tenants)15) Pet and ESA screening through pet screening vendor (helps to streamline and increase quality of screening)16) Client portal account for ease of communication, updates, reports, etc.
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9 June 2024 | 9 replies
I would get 3 quotes from contractors with good review from google and go from there
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10 June 2024 | 5 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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11 June 2024 | 1 reply
For high value prospects, email and call the planning department that supervises where the property is located.
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10 June 2024 | 12 replies
There seems to be good value and opportunity in Detroit.