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12 October 2024 | 5 replies
@Alec Barnes one of the problems with communication is the different expectations.Agents and consumers all think PMCs should be available 24/7.NOT POSSIBLE for the relatively small monthly fees owners pay PMCs versus the thousands of dollars of commissions agents get per transaction.So, while agents may answer their phones 24/7, most PMCs do not.
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16 October 2024 | 10 replies
This could be a safer bet as we wouldn’t have to deal with cash flow concerns post-rehab.BRRRR: If we refinance at $256k (80% LTV of ARV), we could pull out most of the invested cash.
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16 October 2024 | 13 replies
The paperwork to get them setup almost always meant my first rent check from agency would be about 45 days after lease start, so you need to float that.Tenants always paid with Money Order or cash, both required an actual visit to bank versus standard check that could be mobile deposited or ACH.Neutral:My tenants were not "light" on the property, but generally not overly hard either.
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16 October 2024 | 32 replies
If your brain isn't shooting sparks right now screaming "oooh OOoooh OOOHHH, where's the opportunity, oh i bet I could..." then this is NOT your thing.
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12 October 2024 | 3 replies
Honestly there are several career paths that will help (Renovation contractor, real estate agent, corporate RE analyst) but depending upon whether you are looking for a career investing/flipping versus using your W-2 career income to build more by flipping, you can approach it better in my opinion by learning through doing.Flipping especially 1 at a time isn't a full time job and my thought is that you get help on your first, maybe first few flips.
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15 October 2024 | 12 replies
Hey Corey -Three things I’d like to highlight are:1) Most lenders will have a leverage cap on doing a portfolio loan versus doing a single asset, so definitely ask the lender(s) that you’re speaking to about this. 2) Be mindful that a portfolio loan will save a decent chunk of change (thousands of dollars) on closing costs, so that can make it worth it. 3) Lenders will also have partial release clauses for paying off individual properties in the portfolio.
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15 October 2024 | 34 replies
You don't know how to in hard times, and I bet you can just get by on normal times.
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11 October 2024 | 11 replies
I would say take a deeper dive into the nearby product and see if there is a premium in rents for a duplex unit versus an apartment.
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11 October 2024 | 6 replies
You will need to search for off-market deals because they are the ones that aren't that desperate to sell versus the MLS where they want the money right away mostly due to buying another house immediately.
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13 October 2024 | 11 replies
@Syed Lateef I guess if you bargain a bit ABT would be a good bet but I find it hard to believe they have the best pricing.