4 March 2024 | 1 reply
The code states, "A separate and independent building sewer service line shall be provided for every permitted use, home or residence per lot."
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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.
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4 March 2024 | 11 replies
If you supply the appliances, then you have to repair and replace them.
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3 March 2024 | 4 replies
Do any of you have any recommendations for a GOOD company that offers calling services, or a VA company I can hire from with minimal training needed while I am building training strategy for an in-house hire?
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3 March 2024 | 2 replies
You don't have any experience with having basic repairs much less remodels done.
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4 March 2024 | 6 replies
You won't really get much service from a realtor except exposure of your property2.
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3 March 2024 | 4 replies
Research rental comps in your target neighborhoods.Expense ratios: Repairs, vacancies, property taxes, insurance, property management fees, etc. can take a big chunk out of gross rents.
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4 March 2024 | 17 replies
DSCR stands for Debt service coverage ratio.
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3 March 2024 | 1 reply
All of these numbers seem low, especially property taxes if this is in TEXAS:Vacancy $105.00 (3%)Repairs $105.00 (3%)Management $175.00 (5%)Property Taxes $66.67 (2%)What kind of unit is it?
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1 March 2024 | 2 replies
The question in the disclosure "are you aware of any previous foundation repairs?