Hello All, My name is Alex and I'm a newish investor in PBC and points North. I joined Bigger Pockets to scale my portfolio.
I saw an interesting post asking newbies what they fear most about getting started. It was a variety of things depending on the person. The one thing most everyone said in one way or another is fear of the unknown. Here are a couple of tips: 1) Real estate isn't rocket science. (sorry you rocket ...
Hi Everybody, i own a studio condo in NJ. I had a tenant for 5 years. He has been a very quiet and clean tenant and always paid a week in advance and I had no issues for the past 5 years. Last year when I was renewing his lease, he asked if he can put his "wife" in the lease because she wants to ...
I think it is useful to view underwriting as a connected story rather than a checklist of isolated ratios. A lender may be trying to answer questions such as: · Borrower: Does the investor have the experience, liquidity, reserves, credit profile, and execution history to complete the plan? · Prop...
I have a situation where an owner and current tenant have already worked out the basic terms of a sale and mainly need the purchase agreement prepared properly. For those of you who offer limited-service or transaction-only help, what do you typically charge for preparing the agreement and handli...
We run 236 doors in Memphis, mostly single-family and heavy on Section 8. Every turnover runs on the same 21-day scheduling system. Not a goal — a schedule. Day 21 is rent-ready, and the calendar doesn't negotiate. Why a fixed system: turnover and vacancy cost more than repairs. Every week a hous...
When bringing private capital into a deal, operators seem split right down the middle. Some strictly borrow on a promissory note at a flat interest rate (say 10% to 12% annualized). If the project sits on the market an extra two months or has minor hiccups, the interest meter keeps running, but i...
I've spent about forty years digging through public records for a living. Started as a kid at a place called Auto Recovery Bureau on Telephone Road in Houston, finding people and property that didn't want to be found. These days I pull county records by hand for real estate folks — the liens, the...
An owner update shouldn't be a list of everything you did that week. It should help the owner understand what's happening in their property business. A useful STR report should answer five questions: 1. What happened? Bookings received, guest issues handled, maintenance completed, and other impor...
Hello! Does anyone here currently do the rental arbitrage method in order to gain more capital to scale quicker? My husband and I have a long term rental but have recently been introduced to the arbitrage method. We’ve researched alot but I really just want to talk with real people who have done ...
Our tax person, is closing their business at year end. Looking for recommendations. We're small but we invest through multiple entities including trusts and self directed 401ks (regular and Roth). We'd also prefer that they can handle our personal taxes also. We're located in AZ and also file in ...
Hi all, Rob here, a Louisville agent. In October 1981, the average 30-year mortgage rate hit 18.63%. Eighteen percent. And homes still sold. About 60% of existing home sales in 1981 used creative financing, according to the Federal Reserve Bank of San Francisco. Buyers took over the seller's loan...
Property management involves much more than collecting rent and finding tenants. From handling maintenance requests to communicating with tenants and managing daily operations, there’s a lot to keep track of. I’d love to hear from those working in property management: What takes up most of your t...
Hey everyone, I'm looking to connect with more active real estate investors in the Houston area and learn more about what people are working on. I work with Civic Financial Services, helping investors explore financing options for fix-and-flips, bridge loans, ground-up projects, and rental proper...
As I look into STR I can see what the gross nightly rents are.. Then I see that VRBO charges like 8% to be on their platform and Air bnb is 15% so then when PM want 25% your taking 33 to 40% right off the top.. And a bunch of the listings I saw dont have cleaning fee's and I suspect the cleaning ...
Our market here in Louisville, KY just went quiet. Active inventory is up about 40% from a year ago. Fewer houses went under contract in September than last December. Rates are the highest they've been in a long while. Buyers are taking their time, because for the first time in a while, they can....
From the threads here, overruns rarely come from one big surprise. They come from a lot of small ones nobody wrote down. Here's a simple structure that seems to catch them early: Break the budget into trade categories (demo, framing, electrical, plumbing, HVAC, roof, windows, drywall, paint, floo...
Whether you own a duplex or a 20-unit building, I’m curious: what part of your process is the biggest headache right now? What do you wish someone would just build a better solution for? Looking forward to hearing everyone’s answers. Thanks!
After analyzing thousands of properties I have come to realize that having properties and making them fit numbers is better than having numbers and making them fit properties
𝐁𝐔𝐘𝐈𝐍𝐆 𝐀 𝐇𝐎𝐔𝐒𝐄 𝐍𝐎𝐖 𝐂𝐎𝐒𝐓𝐒 𝟒𝟖% 𝐌𝐎𝐑𝐄 𝐓𝐇𝐀𝐍 𝐑𝐄𝐍𝐓𝐈𝐍𝐆 Look at the numbers: Buy: $2,886/month Rent: $1,950/month Thats a $936 monthly difference. More than $11K/yr This isn't just about today's mortgage rates. Since October 2019 mortgage payments have increased 96%. Rents have increased 38%, and wages 37...
Hi all, new real estate investor here looking for some tax planning and financial advice. I've had trouble finding a local firm that offers hourly consultations and specializes in real estate investing. My situation is still pretty simple, and I'm mainly looking for guidance on a few questions an...
I run 236 properties in Memphis, and a lot of good tenants do not look good on a standard application. Past issues get them screened out everywhere else. That is why I use a second-chance program, but it has rules, and the numbers have to protect the deal. Here is how it works. If they do not qua...
I receive listing alerts for specific zip codes in my area from the foreclosure.com address. Has anyone every got a property through these and if so, what is the process? Is there a difference from ones that say bankruptcy opposed to preforclosure? Which ones would be easier to pursue (if any)?
People lacking experience in real estate in particular, or business in general, are typically SHOCKED to learn exactly how slow, costly and aggravating taking “legal” action against someone who clearly violated a contract, can be. One very common misconceptions amongst some of our new investors i...
Would love to hear what associations you are a member of. I am first time investor and I want to get in front of these groups in my local area and just hear of what association you are part of for future collaborations with BiggerPockets. Let me know the following: -Associations name -Location -W...