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11 December 2024 | 5 replies
I would keep and organize all of your communication around this issue, including gathering pictures of the unit and the area in question that was repaired.
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21 December 2024 | 20 replies
I talked to numerous California investors in real life and phone/Zoom calls who have lost money in far away OOS markets, mostly Midwest markets (e.g. repairs, capital expenses, bad tenants, properties vandalized while under renovation, evicted tenant stole all the appliances, property managers with high fees or overcharging for repairs).
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23 December 2024 | 17 replies
Other than that, the city is largely residential with many jobs focused around providing for those residential needs such as the service industry sector, home repair, construction, etc.
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19 December 2024 | 4 replies
(@Jonathan Greene DM us if you'd like to chat about them)Regarding turnkey in Metro Detroit, haven't seen anyone do it the right way:( We've picked up dozens of their clients that fire them due to poor tenant performance and nonstop repairs on their "turnkey" properties.
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28 December 2024 | 23 replies
For me personally I am not handy when it comes to repairs and such.
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20 December 2024 | 10 replies
Initially after management fees, repairs and PMI i was losing about $250 per month.
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11 January 2025 | 420 replies
Lets say you have 3 rentals that rent for $1000/month and you cash flow $300/monthEach month you have GROSS rents of $3000/month or let's say $2500/month after paying PM costs, repairs, etc....BEFORE you pay the mortgage.If you get the rents on 1st of the month and you pay down $2500 into the HELOC, but you don't have to pay the mortgage ($1600) until 15th of the month.NOw you have paid down principle in the amount of $2500 for the first 15 days and $900 for the next 15 days.If you use the traditional method, you only have $900 extra money that you may or may not use to pay down your loans.
18 December 2024 | 2 replies
Built in the last 50 years but before 1990.Currently rented for <$7000 gross but could likely be raised to >$8000.Expenses are as follows:Taxes - $13,000/Yr or ~$1083/MoInsurance - $3100/Yr or ~$260/MoMaintenance, Repairs, Vacancy, Trash Removal - ~$1000/Mo.Now, seller wants 850k & 10% down, interest TBD.
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18 December 2024 | 2 replies
This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes.
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16 December 2024 | 11 replies
Finding an agent, finding contractors, overseeing repairs, finding a property manager, finding tenants, etc.