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1 January 2025 | 14 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), 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 (around 10% probability of default), 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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25 December 2024 | 10 replies
You might want to limit your visits though to avoid escalation.Short term if the smart lock is on his personal door just change it to a key if it's isn't working for him, you can always switch back later.
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26 December 2024 | 4 replies
Recommend you look at Lockly locks with built-in camera, so you can also see who looked at the property and tell if the door was properly closed.
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26 December 2024 | 7 replies
FHA loans only require about 3.5% down, so it’s a great way to start generating passive income while keeping your housing costs low.If you’re leaning towards renting for now, you could still invest by looking at fix and flip properties or even partnering with someone more experienced to get your foot in the door.
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28 December 2024 | 11 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.
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4 January 2025 | 28 replies
Good news is our land is where all of the next-door houses are (free houses, I think legal issues).
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17 December 2024 | 29 replies
The bathrooms made me so depressed... plastic shower units with sad apartment class vanities with some sort of beige solid surface tops.
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21 December 2024 | 1 reply
New roof, exterior painting, new flooring, bathroom updates, finished new living space What was the outcome?