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21 October 2018 | 14 replies
I do not think this was a major strategy killer, but the house sat empty during peak rental time (Summer before school started) and is still vacant at a price above Proforma.Some Observations: Closing costs came out to be much higher than the proforma estimateTaxes were spot onProperty Mgmt. fee spot onThe vacancy is listed at 4%, even though PM says I takes an average of 45 days to rent, so it’s a broad average I’m assuming after tenant leases or across all their properties.They advertise 2-year leases during the tour and most turnkeys are rented prior to closing, not the case for my property, still vacantOne inquiry has come in for a family whose house burned down, but they want 3-month lease smack in the middle of winter for another renewal, not optimalNeither the marketing department nor PM inside Reedy was very proactive as far as communication.
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11 December 2018 | 2 replies
If we sell in the spring we’ll prob lose around 60k in realtor fees
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8 August 2018 | 13 replies
How about refi that house and rent it out to make sure its cashflow, then use the refi money (plus maybe your company gives you relocation fee?)
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7 June 2018 | 0 replies
Hi, What does everyone do in the calculators for PM fees, CapX fees, Maintenance etc?
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10 June 2018 | 6 replies
Ok here's the link:https://www.biggerpockets.com/forums/521/topics/57...There's also a website you can go to for the REIAs, here's salt lake city's:https://slreia.comAnd the Utah one:https://www.utahreia.orgI think the REIAs have a membership fee though, but I haven't been to one yet so don't quote me on that.
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12 June 2018 | 13 replies
Brian Kraft I think what you have to start with is variables that you know: what they rent out for today, property taxes, vacancy for the area, insurance, PM fees, etc.
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8 June 2018 | 3 replies
Also I'm not sure yet what kind of closing costs and or fees this lender will charge for this deal yet.
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7 June 2018 | 2 replies
The monthly rental fee will be XXXX.