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15 March 2024 | 8 replies
However, for any SFR and duplex, a residential lender will value the property based off the sales comp approach, just an FYI!
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15 March 2024 | 93 replies
As if the foundation of the industry is assumed and we just jump in with myths and folklore flying right into storm without the instructor having a real education.
16 March 2024 | 14 replies
I've recently had the roof replaced and fully updated the common areas.Here's a breakdown of the situation: The units are currently marketed as furnished rentals (cashflow well), and based on the current income of the 4 units I own, I anticipate that all 6 units combined will gross $182,400 annually.
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15 March 2024 | 1 reply
While I am not based in KC I am familiar with the area investment-wise.
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15 March 2024 | 5 replies
For myself, I think my ultimate goal is to have an alternate cash flow to offset my dependence on a day job, which would allow me to choose a job I enjoy rather than have to find a job based on salary and ultimately allow me to travel with family more and enjoy life rather than stress about money.Thanks in advance and hope to connect and gain wisdom!
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14 March 2024 | 5 replies
Maybe jump on some of those forums, like the FB page for Short Term Rentals Long Term Wealth for example and do a search for Evolve to see some of the comments.
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15 March 2024 | 7 replies
I would base my decision on that.
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15 March 2024 | 14 replies
My goal would be to buy, rehab, get up to market rents, refinance at a better rate.Three duplexes in Virginia:Property 1 (2 units - 2 bed 1 bath each)- Appraised Value: $245k- Mortgage Payoff - $183k- PITI: $1709.57 - Interest Rate: 9.25%- Total Current Rent: $600 (one unit is vacant)- Market Rent Based on HUD: $2986Property 2: (2 units - 2 bed 1 bath each)- Appraised Value: $270k- Mortgage Payoff - $202k- PITI: $1845.29- Interest Rate: 9.25%- Total Current Rent: $1450 - Market Rent Based on HUD: $2986Property 3: (2 units - First is 3 bed 1 bath, second is2 bed 1 bath)- Appraised Value: $263k- Mortgage Payoff - $190k- PITI: $1809.04- Interest Rate: 9.25%- Total Current Rent: $1500- Market Rent Based on HUD: $3572Other Factors:Total Current PITI is $5363.90Total Rent is $3550Tenants are all month to month with 1 unit vacantEquity After Deal: $197k (may be more as appraisals were done 1 year ago)Rehab costs to get market rent: $20k per unit or $120kLet me know your thoughts!
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14 March 2024 | 5 replies
Should I sacrifice the cash flow and the great interest rate to jump start my real estate business?
15 March 2024 | 8 replies
A few other caveats: As mentioned by @Patti Robertson if you live out of state you must have an Arizona-based statutory agent.