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20 February 2024 | 14 replies
The rate is typically higher but more important then the rate is the higher upfront costs and often pre-payment penalties.
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22 February 2024 | 6 replies
Even the rate terms can change daily, and for example dependent upon the rate lock time.
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22 February 2024 | 3 replies
Looking at the Year 1 data is typically enough.It also calculates Cap Rate, 1% Rule, and Cash on Cash return percentageI think the 1% rule, CoC, Cap Rate, and some other metrics are fine for comparison sake but none are a one-size fits all.
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22 February 2024 | 50 replies
The downside of Milwaukee is that it is an old city and the houses need significant capex, for example we replace several driveways every year, because after 60+ years the concrete on some of them is pretty bad.
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22 February 2024 | 8 replies
In a few of my markets (Philly for example), the minimum stay to be considered medium term is 31 days, anything under it is a short term stay and requires a STR license.
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23 February 2024 | 30 replies
For example, a copy of DL , maximum number of people etc.
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22 February 2024 | 3 replies
Then the judgment would need to attach to the property and then you can foreclose.Issues that could come up are I assume there is no third party servicer to claim the payments were or were not made- so there is a he said she said - if they also occupy the property and statements were not sent you cannot charge interest typically on the loan.You will need an attorney involved to see what if it is still collectible.
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22 February 2024 | 11 replies
If the inspection timeline (typically a week or so) passes, you're earnest money is gone.
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21 February 2024 | 9 replies
: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+, 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, 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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20 February 2024 | 15 replies
Very weird... property taxes typically increase when there is a tax reassessment (renovations done, ADU was added, etc...)