Adam Rodriguez
Broken toilet handle
16 March 2024 | 11 replies
Definitely save your battles for more expensive issues. -- Good Luck!
Andrew Rellinger
When to rip out carpet and install LVP?
16 March 2024 | 22 replies
If you have a cat that pees or sprays, understand that even if LVP is waterproof, it can seep through where planks connect or edges/trim to reach to the subfloor or slab, causing major odor issues.
Jess Keller
STR's Profit Owners & The Economy, But Some Neighbors Still Need Convincing!
15 March 2024 | 21 replies
Quote from @Jess Keller: Unfortunately your sign doesn't actually do anything to prevent excessive noise, parking problems, fireworks, property maintenance, trash, pets, unpredictable neighborhoods or anything else related...I am for allowing STRs in mixed used zones and against allowing them in residential zones.
Ane Deys
buying investment property in Detroit
15 March 2024 | 8 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+, 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, 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.
Zander Kempf
Step by step tutorial on how to invest in real estate
15 March 2024 | 1 reply
Algebra and Geometry books on how they relate to REI.Proper knowledge on ho to analyze marketsThe importance of learning as many different strategies as you can, and then knowledge about those strategies, how, when and where to apply them, and the math behind them.Learning what a REI Plan is, and the difference between a Plan, Financial Goals, and the steps that lead you from where you are to your financial goals.The most important knowledge, is how all of this goes together.Now I've already done all of this, and more, but these are some of the most important things that are lacking out there.
KC Pake
What's Holding You Back from Your First Real Estate Investment?
16 March 2024 | 12 replies
Some years are better than others as you can all relate to.
Rick L.
Buying outright vs leveraging - Help a new member out!!
16 March 2024 | 8 replies
Complicating this issue is the need to do a 10-31 due to stepped up value/capital gains tax on half of the land.
Joseph H.
Seller financing terms
16 March 2024 | 3 replies
Probably not an issue for seller financing, but make sure there are no prepayment penalties.You can calculate payment and balloon amount easily enough with excel or google sheets.
Matthew Cabrera
NAICS Code for Real Estate Investing & Best Practices
16 March 2024 | 2 replies
I would hate for this to be an issue.2.
Eric Samuels
Which contractor should I go with?
16 March 2024 | 2 replies
Also discuss with the contractor the time expected for the project if its small, mid or large and if it needs permits and how long would it take for permitting and all, also payment terms, make sure you go with payment terms that are fair to you and the contractor (so many terms but most common is monthly based on completed work with an upfront for materials) and ALWAYS keep the last payment until project is closed (retainage) and you do your walkthrough and if there's any issues you write them down and provide the contractor with (punch list to release the retainer once they're corrected or fixed). read about how to deal with contractors and always ask for references but it really depends on how big the job is, personally I wouldn't spend too much time doing due diligence on small jobs such as door latches or shelving rather on additions, layout change and other scopes.Good luck!