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9 February 2024 | 10 replies
Without actual market numbers (market rent, property tax, vacancy, capex, repairs, insurance, etc.) you can't make educated decisions about moving and renting your property.
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9 February 2024 | 6 replies
Reason I tell you to only use part of the $50K is because its better to use the banks money.That also allows you to stay cash fluid and have reserves for repairs and renovations.
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11 February 2024 | 32 replies
., Airbnb) can provide higher returns in specific markets, but come with their own management challenges.Refining Your Analysis:Double-check your calculations: Ensure you're factoring in all relevant expenses (taxes, insurance, repairs, etc.) in your BiggerPockets analysis.Consult local experts: Real estate agents or property managers familiar with your target market can provide insights on hidden gems and realistic expectations.Remember, location matters: While affordability is important, don't compromise on factors like tenant demand, and access to amenities.Additional Tips:Network with other investors: Connect with local investor groups or online communities to learn from their experiences and share strategies.Start small and scale gradually: Building experience with a manageable property can be valuable before taking on larger investments.Remember, investing requires patience: Don't expect immediate results.
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8 February 2024 | 24 replies
You just have to really understand how to run your numbers and make sure you find the right deal.Regarding the HELOC... it's a fantastic tool provided a) you can comfortably service the added debt, and b) you have a plan to pay it back.
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9 February 2024 | 5 replies
No Uhaul type service, very few people have pickups due to the high cost of fuel and taxation.
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9 February 2024 | 8 replies
If I am able to make tax deductions or write offs from repairs/ maintenance items how can I do so?
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9 February 2024 | 1 reply
Typically, you should try to be all-in on a property for 70% of the ARV (After repair value).
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9 February 2024 | 13 replies
Want good service , pay within 1 week .Want great service , pay the same day .
8 February 2024 | 3 replies
If people are curious, the damage/work exceeded my skill set to repair the house.
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9 February 2024 | 3 replies
DSCR (Debt service coverage ratio) loans don't consider DTI, they are based on the property's ability to cash flow.