2 September 2018 | 2 replies
The rules of an MLS usually say that when a buyer has been identified and the property is no longer available, the status needs to be changed, which is probably what's going on in your case - the property might still be available, and the buyer may or may not close, so they don't want to shut everything down, but also don't want other agents to spend time on a deal that might not be available.
9 September 2018 | 3 replies
Im not In a jam or anythIng just wonderIng If there Is a common Ideaology for prIcIng lower to sell faster as a rule ETC Thanks agaIn
16 September 2018 | 3 replies
The 1% of purchase price is a good rule of thumb, but you might want to consider seeing what similar units on the market are renting for in that area.
2 September 2018 | 2 replies
In general, would a 3BED 1BA house appraise higher than a 2BED 1BA house, assuming both houses are the same in every other aspect?
4 September 2018 | 80 replies
Data rules the world, and unless you are in a large city, the chances of having enough data at a high enough speed is rare.
2 September 2018 | 0 replies
Namely, a duplex that can cash flow (0.9-1% rule) and appreciate (~5%).
31 October 2018 | 9 replies
.$145,000PURCHASE PRICEPurchase Closing Costs$2,000.00Estimated Repairs$20,000.00Total Project Cost$167,000.00After Repair Value$170,000.00Down Payment$7,250.00Loan Amount$141,882.50Loan Points$4,132.50Amortized Over30 yearsLoan Interest Rate5.400%Monthly P&I$796.71Total Cash Needed$29,250.00Monthly income:Rent:$3,500.00Other:$0.00Total operating expenses:Mortgage expenses:Vacancy:$350.00Repairs:$350.00CapEx:$350.00PMI:$40.00Garbage:$20.00Insurance:$56.00Management:$350.00P&I:$796.71Property Taxes:Total Monthly Income:$3,500.00x50% for Expenses:$1,750.00Monthly Payment/Interest Payment:$796.71Total Monthly Cashflow using 50% Rule:$953.29I made conservative estimates on everything.
3 September 2018 | 2 replies
I do realize that I would be up against the clock with the 1031 IRS rule if I sold so I would have to have some properties lined up before I did this.Lastly, I do have someone who seems to be willing to give me advise (mentor) with my deals.
22 September 2018 | 13 replies
Big takeaways Asking Price: $145,000Gross Rent: $2,500 (some of the units are below market rent so I'm assuming I can raise rents to at least $625 a unit)Cashflow: $169 (This seems awfully low for a quadplex considering it's much better than the 1% rule)Any advice would be greatly appreciated!
10 September 2018 | 14 replies
Again, your local buidling code will rule the day, but Missouri falls into Zones 4 and 5, which would require R-49 via the IRC.