Jacob Lockard
Looking for advice to either continue my STR or sell
6 March 2024 | 22 replies
I'm sure there are things I'm not considering and would appreciate your feedback.Here are some additional details about the home and financial situation.Location: Atlanta, GeorgiaMortgage: $5513/mo @6% interestZillow Rental Estimate: $4966Current Mortgage Balance: $716kZillow Home Value Estimate: $825-1.02mAirDNA Information:Projected Revenue: $82.7kAverage nightly rate (as entire home): $347Occupancy: 65%Projected Operating Expenses: $41kManagement Fee: 20% - $16500Lodging Tax: 5% - $4134Property Tax: (included in mortgage escrow)Cleaning Fees: $6600Maintenance: $3400Insurance: $5200Utilities: $5172Projected Monthly Income: $6891 - $5513 = $1378Projected Expenses: $3416 /moAfter Expenses: -$2038 / moHere are my listings:https://www.airbnb.com/rooms/796636182229405398?
Laura Van Lenten
Cost segregation self survey instead of full study?
8 March 2024 | 8 replies
For instance, while it can bolster initial cash flow by reducing tax liability, it could diminish deductions in subsequent years (when the property might produce better cashflow), impacting overall tax footprint, so you need to take into account all that in the context of your short term and long term tax strategy (e.g. if you plan on selling soon, at which time the depreciation gets recovered, or not and planning to hold for a long term/forever/1031, buying more later and creating more depreciation to offset cashflow or not, etc.).The alternative is a do-it-yourself (DIY) or survey option, which costs around $400 to $500 per property (I can do my CSS report in 10min, once I have all the data needed).
Nathan Patterson
Section 8: Possible tenant complaint due to water heater size
6 March 2024 | 8 replies
I could use up the water in a 20 gallon hot water heater every time I take a shower because I take 20 minute long extremely hot showers.
Rodney Love
Which real estate strategy works best to escape the 9-5 rat race?
9 March 2024 | 89 replies
If you do it through rentals, you have to figure out what your cash-flow per door is.If you are able to get $200 a door, and you are talking about $7,000 after tax, you would need 35 doors.If your $7,000 is gross, and it is $5,000 Net, you would need 25 doors.This is assuming the rental income would be sheltered by depreciation.
Philip Preskenis
Financing for quick close - 10 days
8 March 2024 | 18 replies
With some hard money lenders you will be paying a rush fee to get the appraisal and other documents done in time.
Katlynn Teague
Feb Market Trends and Outlook
7 March 2024 | 5 replies
As an alternative, that $382,650 placed in 4-week T-bills with zero risk will yield (at today's 5% rate) $1,594 per month interest income but with no tax benefits.
Jack B.
Will housing crash in 2026 or has it already crashed? Expert called last two crashes.
8 March 2024 | 121 replies
The job market is seeing multiple applicants per opening.
Joe Branco
Looking for 2nd investment property. WWYD?
7 March 2024 | 6 replies
With our growing family and careers, the part of the plan we didn't act on, was acquiring a new investment property every few years.Currently the duplex is cash flowing about $1200 per month and it has approx $225k in equity.
McKay Moore
Rent Collection Tool
7 March 2024 | 3 replies
Pay Near MeI dissuade in person payments by adding a fee to my leases if I need to physically collect rent and if they give me a check or money order I use mobile deposits to avoid a trip to the bank.
Brandon Persell
Advice for house hacking in Upstate NY
7 March 2024 | 1 reply
There are not many multi-family options available in my local area, and the ones that are available are overpriced or the current rent rolls are extremely below market average($200-$400 per unit).