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6 January 2025 | 9 replies
I agree with Aristotle-get paperwork in order now to ensure when the time comes, you have less to deal with.
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8 January 2025 | 38 replies
Still, not changing over the utilities in the winter is stupid but the PM should have checked the unit to make sure everything was set properly - heat down but not off, lights off, etc.
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3 January 2025 | 3 replies
They’ll check if your property, zoned R5, allows a curb cut and ensure it meets zoning regulations.
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3 January 2025 | 18 replies
Obviously they are putting more pressure on out of state investors that invest within Cleveland proper, but spreading liability to the property manager is a new twist.
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7 January 2025 | 5 replies
Place these footings strategically after you have jacked the house up to proper level.
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5 January 2025 | 18 replies
Cash flow is helpful because it ensures the property pays for itself and is a safe investment.
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4 January 2025 | 5 replies
The overall LTV (including all 3 mortgages) will be key and your selling point will need to be that the 2nd mortgage ($8k) will burn off in 2.5 years (based on your surprise that it was even out there, I'd recommend that you follow up in 2.5 years and ensure that it's been satisified, so that it doesn't surprise you again in the future).Does the $8k grant vest over the 5 years?
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12 January 2025 | 8 replies
I've done plenty of deals without and agent, off market not even on the MLS but I'm one of those wholesalers that did things properly, had qualified buyers before even reaching out to sellers and strictly stuck with assignments.Biggest problem is so many "wholesalers" barely have the understand of a deed or what title insurance is so there's an immense amount of knowledge they need before hand which can just be provided to them by getting a license!
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2 January 2025 | 10 replies
I do also want to ensure this doesnt happen again and if needed work to evict.
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7 January 2025 | 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+ (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.