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29 January 2025 | 3 replies
Theming can be $5-10,000 per bedroom (includes whole house decor, so a 5 bedroom could be $50,000 for the entire home furniture) depending on your imagination and quality.
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3 February 2025 | 56 replies
Jonathan Having worked most of those markets (Detroit included), I'd say most all of them will offer investors a very similar return.
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7 February 2025 | 41 replies
CA, in total continues to lose 100k's of population and continues to add onerous legislation, including the state rent cap they passed a few years ago (doesn't apply to sfr's though).I am not sure why anyone would want to jump in the deep shark infested waters right before feeding time, unless you have a clear proven strategy, or a very long time horizon.
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13 February 2025 | 22 replies
Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.
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28 January 2025 | 22 replies
I'll include a BP article below that highlihgts the gist of them in alignment with BRRRRs.Also, I lived in NC for a bit, so happy to connect and introduce you to some folks in the area. https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...
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23 January 2025 | 3 replies
Retain proof of that notice and make sure you include the new tenants right forms required by the city now.
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18 February 2025 | 15 replies
Your time is best spent producing the revenue that allows you to invest in the first place.That includes using local agents you meet and feel are a good fit for you, property managers, possibly buying completed properties like the one you posted here, and outsourcing as much of the process as you can as you get started.
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24 January 2025 | 10 replies
It seems like it "should be" good with some good features for the price (specifically I'm looking for an easy way to sync pricing across platforms including my website).
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23 January 2025 | 6 replies
Include a sweet outdoor area maybe with a pergola, jacuzzi feature.
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12 February 2025 | 22 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.