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2 January 2025 | 25 replies
100% agree either make it operable or get a fridge with no dispenser.
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31 December 2024 | 97 replies
Remember that disclosure laws vary greatly by state, with roughly 50% of states operating under Caveat Emptor...which means no disclosure at all.
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4 January 2025 | 20 replies
I would do what you are doing here on a bigger scale - social media, local markets she operates in Facebook groups, etc.
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9 January 2025 | 28 replies
Do what you say you're going to do, on the seller side and your buyer side.I've done acquisitions for a few years now and I understand how to analyze and close deals pretty good along with having a fully operational running business (from TC, dispositions, etc.) to handle new contracts and get these contracts to the closing table.
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1 January 2025 | 36 replies
Needs an owner-operator to manage.
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29 December 2024 | 4 replies
Rough calculations on what I need to be looking for:90k deal (purchase and renovations to get max rent)20% down = 18k from me80% bank loan at 8%, 20 yr amortization = 72k-------------------------------------------------- Here's my DSCR calculation:Calculate Net Operating Income (NOI):Monthly rent: $125040% expense ratio (taxes, insurance, repairs, vacancy) = $480NOI: $1250 - $500 = $750Calculate Monthly Mortgage Payment:Loan Amount: $75,000Interest Rate: 8% per year (0.08/12 = 0.006667 monthly)Loan Term: 20 years (20 * 12 = 240 months)Monthly Payment ≈ $627.83Calculate DSCR:DSCR = NOI / Monthly Mortgage PaymentDSCR = $750 / $627.83DSCR ≈ 1.20Therefore, with a $75,000 mortgage at 8% interest over 20 years, the DSCR is approximately 1.20
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24 December 2024 | 24 replies
Evaluate forming an LLC to protect both parties and outline everything in an operating agreement.
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25 December 2024 | 11 replies
If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.
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31 December 2024 | 13 replies
Start by clearly outlining your renovation goals, and follow up with an in-person or virtual consultation to ensure both you and the contractor understand the vision for the project and expectations.
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2 January 2025 | 50 replies
In late spring through summer season i am virtually 100% booked.