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9 February 2022 | 9 replies
Crime was way more than it was shown in city database as most of the things were never reported.Actual rent collection was only $4200 by 18 tenantsPark had very bad repo in area (Which was known to us)What we did after buying:Worked on road (new milling road), removed extra trees, cleaned 40-50 dumpster of trash.Worked with city development agencies to remove bad tenants via evictions or stationed police officers on weekend to deteriorate drug traffic, incentivized good tenants to provide us video /call cops with videos so that cops visits are frequent.Removed bad homes and brought in 7-8 newer homes from other parks.Repaired around 19 houses in last 18 months and brought up average rent $680 per home.
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3 February 2022 | 7 replies
If you have a good relationship with a bank and you have even break-even numbers on your rentals, there's usually a solution to be found to acquire more properties.
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4 February 2022 | 10 replies
You can also check your own FICO at myFico.com and start to clean up any errors.
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4 February 2022 | 6 replies
I'd consider partnering up with someone and offering management, lead generation, cleaning, turning, renos, etc for either free or a low rate to understand the game and build up that network.
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9 February 2022 | 7 replies
Tell them the property will be in better shape than with long-term tenants because it's getting cleaned 1-2x per week.
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11 February 2022 | 3 replies
Even if you were to fully automate, still need someone to reset the units and clean them up.
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11 May 2021 | 2 replies
We keep a very clean job site throughout the build, or at least as clean as these things can be.
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10 May 2021 | 2 replies
Assuming your hard money lender wont offer the rehab budget with the loan (which might not be the best option anyways), a decent option (if your business has been around long enough) might be to try and qualify for 6-12 month interest free business credit cards, which could be a short term solution, however if you have some property with equity, in my opinion a HELOC would probably be your best bet.
11 May 2021 | 3 replies
Minimum credit score 700 No evictions/ clean backgroundincome at least 2.5 times the rent.
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12 May 2021 | 9 replies
There aren't many options that provide the full suite of services (cleaning, guest communication, etc) you need to operate successfully.