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20 May 2024 | 6 replies
The purchase price was 1.375m The property was 8 buildings of 40 or so units scattered in a D area with F tenants.
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17 May 2024 | 12 replies
Your commitment to building a portfolio of long-term rental properties is truly inspiring.Best of luck on your journey!
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20 May 2024 | 6 replies
Tarrant county is so overlooked by landlord investors but it seems the list of large companies building large facilities with lots of employees on the Fort Worth side is never-ending.
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16 May 2024 | 3 replies
Hello, Im looking for some advice in a creation of a land trust for my properties, how much will cost to create the trust?
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20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
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20 May 2024 | 6 replies
Currently, I am a district manager for Build 2 Rent, specializing in new construction properties in Florida and North Carolina.
18 May 2024 | 1 reply
My mom had a trust set up for her apartments to be split evenly amoung us kids.
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17 May 2024 | 5 replies
Me and my Partner have a deal under contract out of town but the greatest challenge is finding buyers in that market.Feels like we called every line available to find buyers in the area but we haven't struck a solid buyer any suggestions on building a buyers list or finding buyers interested in Fix and Flips Near WACO.
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18 May 2024 | 1 reply
Everyone who touches the property along the way has to do their job, or at the end of the line, you'll have a vehicle with missing pieces, wheels that have fallen off, a vehicle that cannot be trusted and a client who will be shopping for a new PMC.
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19 May 2024 | 6 replies
Unfortunately, that won't matter as Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE’s) that set the guidelines for conventional loans, which most lenders follow for other types of loans, too, require that a condo building’s master hurricane insurance policy provide 100% coverage of the replacement value for the building.