Sam Nichols
Advice on property manager not replying to calls for over a month
11 May 2024 | 22 replies
It's unfortunate but this is a hard business some times people just can't cut it even if they've had some success before.
Diana Tran
Seller Has Counteroffer, How Should We Negotiate?
9 May 2024 | 8 replies
Unit A is about 100 years old and Unit B is almost completely new.Pros:-The duplex is in a very desirable neighborhood with home value appreciation year over year at about 50+%-Rent is also in high demand within this area-Cash flows well even with high interest rates and increasing property taxes-Home is price below average cost per sq ft-The house has been renovated and some parts of it has been remodeledCons:-All issues are with Unit A, the 100 year old unit.
Jae Oalmer
New real estate investor
12 May 2024 | 21 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.
Josh Barnes
Rondo Investments Experience?
12 May 2024 | 4 replies
Rondo investment cost me a lot of troubles.
James Mc Ree
Solutions for problematic service animals
12 May 2024 | 14 replies
I am already requiring the tenant cover repair costs and want to tell them the dogs have to go.
Landon Harless
Hello BP Community!
12 May 2024 | 19 replies
I'm not ruling out Florida, but it isn't my focus because of taxes and insurance costs.
West Kite
What should I do? floating interest rate on new construction
12 May 2024 | 1 reply
If a buyer is offered a 2-1 buydown (starting at 5.25%, increasing to 6.25% and then to 7.25%) with all closing costs covered except for $3,000 (to be paid by the buyer) on new construction through the seller's preferred lender, and signs the purchase contract in April 2024, the house will be completed by the end of September 2024.
Cory J Thornton
New Construction VS Existing Housing
10 May 2024 | 23 replies
You get grandfathered into the codes that were in place at the time, you get the old setbacks, you don't pay an architect, engineer, city and permit fees, plan check costs, school fees and other costs that will not come with an existing house.Not saying that you can't build new for less than a remodel, but not usually when you add in all the costs above.
Michelle Curran
Cost Seg on a STR Reno all Self-done
8 May 2024 | 7 replies
Trying to determine if a cost seg study is worthwhile.
Tatenda Mpofu
Common Surveys Performed During Diligence
12 May 2024 | 8 replies
Thank you,I'm new to this type of investing (more familiar with buying businesses) so I'm cobbling together information from brokers, chatGPT and everything in between to figure out what I need to (at reasonable cost while controlling risk profile) complete an acquisition.Facility is in rural Kansas, and is composed of a portfolio of 4 buildings on 3 parcels. 195 unit count - ~10 years old on average, some are newer (2 years) others older (15+ years)I'm trying to learn what I should watch out for in the process and what studies will be needed to get a good level of comfort before acquiring the facilities