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12 February 2025 | 14 replies
I was able to move out of my parents house in an expensive market by using the other unit rent to cover the majority of the expenses.
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21 February 2025 | 4 replies
Brandon Turners podcast A Better Life with Cam Cathcart has covered a ton of real estate related topics and ideas.
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21 February 2025 | 2 replies
Goal is cashflow or at least covering a substantial portion of the mortgage.
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19 February 2025 | 0 replies
Instead, as with a lot of south Florida wholesale deals- we ended up replacing and having to fix things that were covered up and two years later she was ready to go.
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7 February 2025 | 25 replies
I told her that I need proof of liquid funds sufficient to cover 25% of the purchase price and to provide proof of that.
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13 February 2025 | 16 replies
I'm making a healthy downpayment cash by doing a cash out refinance on three of my established properties that I know can cover the debt service handily.
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20 February 2025 | 10 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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15 February 2025 | 21 replies
You should have a good idea of every expense you have in your primary home, then add the STR specific: (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal: $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses.
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9 February 2025 | 3 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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9 February 2025 | 5 replies
A few other houses (all single family houses) on the same street are on the market for rental and they (including my house) all get grouped and nestled under one cover listing as “units” of an apartment complex.