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12 January 2025 | 23 replies
In many cases, whatever weakness got them in that position (lack of focus, lack of drive, failure to take responsibility for their destiny, etc.) will also make it difficult for them to succeed in real estate.
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8 January 2025 | 9 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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1 January 2025 | 3 replies
When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.
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2 January 2025 | 2 replies
We do not verify identities, that would be a bigger lift than we are capable of currently, however it is against the rules to use a false identity per section 2.A of our website rules here https://www.biggerpockets.com/rulesSo anyone discovered using a false identity will be removed if they are reported to spam.
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30 December 2024 | 5 replies
Main goal of All In One heloc or 1st Lien Position Heloc: Lower your daily average balance.Main Drawback: Rates are substantially higher than 60% of current 1st mortgage balances.If you are mostly living paycheck to paycheck and your money leaves your account as soon as it comes in to pay bills, this is not for you.
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13 January 2025 | 15 replies
@Bryant Xavier I have had the same fear about scewd numbers, so I love the idea of reaching out to hosts in similar positions.
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18 December 2024 | 5 replies
I picked Las Vegas because it’s close to me and California is out of reach. I see lots of properties on the market but almost none of them makes the .5% let alone 1% rules, so why would any investor buy them? In most ...
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2 January 2025 | 50 replies
Don’t hurt your ranking by splitting your property into many baskets… especially those personal websites!!!!
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6 January 2025 | 5 replies
This will provide you two benefits:1) Help you better define the position, so you can hire a better matched person2) Make training the next person easier
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1 January 2025 | 26 replies
I see a disservice being provided in the given example by the real estate agent by not bringing creative strategies on both the sellers and buyers position on this particular deal.