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7 January 2025 | 9 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 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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9 January 2025 | 9 replies
I can only come out of pocket to cover mortgage so long.
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9 January 2025 | 0 replies
Price RangeDefine your financial boundaries based on available capital and borrowing ability:For Class A & B, financing typically covers 75%-80% of the purchase price, allowing you to buy properties in the $6M-$12M range if you have $2.3M total cash.For Class C & D, due to higher risk, the price range might be reduced to $5M-$10M with the same cash.5.
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31 December 2024 | 3 replies
Aside from this forum and the events promoted here, where else would you recommend looking to find connections or events with experienced flippers in Chicago?
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8 January 2025 | 0 replies
Partner Driven financed the Main St deal by covering 100% of the $20,000 purchase price and $45,000 renovation budget, ensuring Amanda Frecks could focus entirely on project execution without the stress of upfront expenses.
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6 January 2025 | 13 replies
What I mean is, some investors look strictly at cash on cash return, some look at cap rate, others just want to make sure their mortgage is covered.
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23 January 2025 | 52 replies
That one can be found though for sure.When I was moderating, it was frankly laughable the excuses the very few people made when their posts were obviously self-promotion.
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4 January 2025 | 5 replies
It usually doesn't cover for full replacement of your property.
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11 January 2025 | 20 replies
You would then alert your insurance to it and it will go up but you would be covered.
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11 January 2025 | 14 replies
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.