Mikael Gandy
New RE investor in Metro Detroit
7 November 2021 | 4 replies
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
Brian Brantley
Comps and cap rate range on multi family apartment building
20 October 2021 | 1 reply
It can still be of value to run, but generally you need comparable sales.
Sam Raj
Investment home/Property tax - Texas
21 October 2021 | 7 replies
They use this sales data to determine the tax assessed value of the homes and comparable homes.
Frank L.
Property Management made $1850 Mistake
27 October 2021 | 8 replies
Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.
Luke Edwards
Exiting The Military, VA Loan
3 November 2021 | 12 replies
As an agent, it will be harder for you to get a loan because you need to show you have two years of taxable income compared to a regular job.
Timothy Lewman
Massachusetts September 2021 Closed Sales Stats
20 October 2021 | 0 replies
Median Price: $525,000 +7.14% Yoy - 7ish % isn't unusual, I have multiple ~7% moves since 2016.Sales: 5,344, -10.06% - normal number for September, 2020 was unusually high due to delayed purchases from Covid thus the yoy lossYTD sales: 41,238, +8.36% - highest Sept read I have, houses are selling.Inventory: 5,875, +6.16% - still too low compared to pre-Covid, see stacked chart.New Listings: 6,366, -10.61% - still too low compared to pre-Covid, see stacked chart.YTD New listings: 51,949, -2.47% - prior to Covid we were running 60k+ houses.Months Supply: 1.2, -14.29% - persistently low indicating an unrelenting sellers market, see the Existing homes as a % of households chart, continues to shrink.Cumulative days on Market: 26, -44% - persistently low indicating an unrelenting sellers market
Connor Washington
Short Term Rental Purchase Prices
20 October 2021 | 6 replies
HOA fees are on the lower side compared to some but it covers everything except electricity bill.
Richard Poist
What were you the least prepared for?
22 October 2021 | 8 replies
Understand the cash-flow of working a 9-5 job, compared to working your own business.
Erick Sembrano
Flood Insurance - Anyone successful filing for Map Amendment?
7 January 2022 | 20 replies
@Erick Sembrano try the company floodsimple for coverage, they were very affordable compared to other insurers when we needed coverage on a 5 unit in a very similar situation.
Eric Kirkham
Fix and flip turns into seller financing.
20 October 2021 | 1 reply
I showed the Seller comparable homes in the area and asked him what he wanted to get out of the home after agent commissions were paid.