3 October 2021 | 16 replies
Their appraisal appraised $90,000 less compared to mine.
3 October 2021 | 2 replies
Aside of things like properly identifying parties, property, competence of the parties, mistake, fraud, meeting of the minds, etc, there are three essential elements required to form a binding contract:Offer - one party offers to sell, lease, or otherwise transfer ownership of an item to a buyer.Acceptance - the other party accepts the first party's offer.
8 October 2021 | 13 replies
You should definitely shop PMs and understand what comparable units are renting for, their condition, amenities etc.
4 October 2021 | 4 replies
I'm not saying you shouldn't look at this area, but compare it to at least one other market.
5 October 2021 | 4 replies
I used comparables through similar sites to what you mentioned and made a list of notes next to them like "similar condition to ours" "small bedrooms" "has a pool" or whatever else was like/unlike our units and then picked in the higher percentile of rents because I knew we would provide more benefits than other units.
6 October 2021 | 2 replies
This makes more sense for me because it is passive compared to how active my multifamily property was, even with a property manager.
7 October 2021 | 2 replies
The only other differences I'd see are hurricane windows/door, metal roof, the house designed for the coastal elements, ect.
5 October 2021 | 6 replies
If you're serious about investing think about the time sitting on the sideline compared to the opportunities and ROI for properties you could have purchased.
3 October 2021 | 4 replies
After the unit is empty we do a video walk through with the tenant and can compare it to the video we did on day one.
7 October 2021 | 6 replies
We can easily cover the mortgage with our W2 income and we anticipate we will cover the mortgage and then some with the STR income (it has a track record of this with current owners and also comparing data from surrounding comps).