Daniel M.
Seeking Advice on Tenant Placement for New Duplex and Managing Commission Expectation
10 March 2024 | 5 replies
This family is currently searching for a home, and our agent, who also represents them, has generously offered to waive any commission for connecting us.After outlining our standard tenant qualifications—which encompass application requirements, income verification, rental history, credit score, background checks, a non-smoker policy, occupancy guidelines, pet policy, application fees, and move-in costs—our agent indicated that the extensive discussions and adherence to these requirements "equals a full commission of one month's rent."
Roy Sawyer
Help me analyze this deal
6 March 2024 | 2 replies
Your uses will encompass how that money is spent, i.e. purchase price, closing costs, renovation.
Emily Anderson
Full STR analysis in Okaloosa Island, Florida, WITHOUT using AirDNA.
4 March 2024 | 18 replies
For further details on this parameter, please consult our user guide.We have allocated a budget of $15,000 for renovations / refurbishments.The purchase price of a 2-bedroom / 2-bathroom unit in this area is $498,000, with 5% of this price allocated for closing costs.A turnover cost of $175 per booking has been factored in, with no rental management fee assumed, indicating that you will manage bookings and cleaning services independently.The mortgage rate is set at a fixed 7% per year, with an 80% loan-to-value ratio (LTV) and a 20-year term.For the remaining parameters in our financial model, please refer to the image above.Taking these values into account, below are the results of the financial case study.Some insights:The results show the anticipated performance of a 2-bedroom / 2-bathroom unit in the southwestern area of Okaloosa Island, Florida.Expected gross revenue amounts to $78,240, derived from 47 bookings with an average stay of 5 days at an average daily rate of $325 (inclusive of cleaning fees).Total yearly expenses add up to $68,014, encompassing various costs from private mortgage insurance (PMI) to property taxes and annual loan repayments.The cash required for this deal totals $139,550, incorporating the 20% down payment for the mortgage, 5% closing costs, and the $15,000 renovations budget.Pre-tax net revenue stands at $10,226, representing a 7.33% cash-on-cash (CoC) return.The annual return on investment (ROI) is 1.9%, excluding value appreciation.
Michael Alexander
I'm not saying get rid of Airbnb, just add more options
29 February 2024 | 6 replies
Boostly also encompasses a weekly podcast and a Facebook community that you can join to exchange ideas with other property owners.Other options include using bigger and better Channel managers like RentalsUnited https://rentalsunited.com/Or NextPax https://nextpax.com/channel-manager/integrations/channel-par...The more viability the better helps you get through the slower season.
William Burns
Section 8 Rentals
27 February 2024 | 11 replies
(Section 8 is sort of a broad term and can encompass any tenant receiving housing assistance from a govt authority.
Mike Schorah
Is there a Non-Woke AI Technology for Lead Generation?
25 February 2024 | 3 replies
Beginning in the 2010s, it came to encompass a broader awareness of social inequalities such as racial injustice, sexism, and denial of LGBT rights.”
Brian Erlich
Is Airbnb as bad as they say
24 February 2024 | 28 replies
In some ways it's an easy platform to use because they have their own ecosystem, and everything is encompassed on their site.
Jeremy Porter
Mastering Real Estate Investing: A Comprehensive Guide to the BRRRR Strategy
22 February 2024 | 1 reply
Taking the time to implement a comprehensive screening process can ultimately save you time, money, and stress by helping to minimize the likelihood of future tenant-related problems.Property Management Tips: Discover the fundamental principles of property management, encompassing a comprehensive understanding of handling maintenance, rent collection, and effectively managing and addressing tenant issues.
Alex Breshears
Clearing up something about private lending...
20 February 2024 | 16 replies
So, hard money would encompass most if not all of the following characteristics: not credit based, loan amount based on the value of the hard asset offered as collateral, high interest rate and high points, short term loan, relatively low LTV, low documentation requirements, non cash flowing properties still considered.
Hayden Pratt
Jacksonville RE Conferences/Masterminds
16 February 2024 | 1 reply
Does anyone know of local masterminds/meetups/conferences that encompass Real Estate Investing?