Ricky Dorn
Rookie looking at first investment. Send Help! (lol)
13 November 2021 | 7 replies
I also would recommend writing down a list of whats wrong with the home and estimate for repairs.Are you using the right comparables?
Arthur Wong
Failed BRRRR in Dayton
12 November 2021 | 7 replies
There are ways to hide deficiencies in an inspection, but a walkthrough video can let you see things that just look "off".As someone who works for a turnkey company and only buys turnkey, I always get the scope of work and compare it to the inspector's report to make sure things were done.
Mohammad Khan
My first BRRR Project
12 November 2021 | 6 replies
In addition, I have compared similar comps to estimate the ARV and I am also working very closing with my refinance lender.
Alex Bruzda
How bad is too bad to renovate and rent?
12 November 2021 | 7 replies
It all comes down to the cost to purchase + cost to renovate + closing costs : compared to the after repair value (ARV) and how that looks as an investment.
Jarret Flexman
Getting ready to rent my first house, looking for advicr/guidance
15 November 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.
Norm Freda
Property Management Company
12 November 2021 | 1 reply
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.
Yuriy Skripnichenko
Philadelphia Home Demand Index, October 2021
16 December 2021 | 5 replies
The number of new listings in the Philadelphia Metro was down 12.9% compared to last October, while sales activity saw a 5.9% monthly decline.Median Sales Price: $304,000 in October 2021, a 9.0% increase over October 2020Overall Sales: 7,834 homes sold in Metro area, down 12.8% from October 2020Median Days on Market: 11, +1 day from SeptemberBuyer demand for homes in the Philadelphia Metro market area was unchanged in October.
Garlin Smith
Analyzing rental rates?
16 November 2021 | 8 replies
If I'm still unsure...Ask a property manager, a realtor, other landlords in the area, search rental listings like you were searching for a rental comparable to yours then adjust up/down based on your condition and amenities.
Robert Allen Lin
Trouble finding Cash flowing Houston Small MultiFamily
15 November 2021 | 4 replies
I was definitely having difficulty justifying 50% down to yield something comparable to a savings account.
DongHui Patel
Cap Rates at 3%, Interest Rates at 0% (Libor), worth investing?
27 November 2021 | 22 replies
Revenue growth isn't tied to interest rates, it's tied to supply and demand in the rental market, plus what other comparable properties are charging.