All Forum Posts by: Ryan Konen

Have you talked to RentRedi to let them know? Also did you check your fine print to ensure? If that's the case they are in breech of their contract 

Welcome! 

For new build to rent properties, expenses are generally lower than for older homes, but it's best to remain cautious. Maintenance and repairs typically range from 5-7% of rental income, compared to the standard 10%, as new builds have fewer immediate issues. Vacancy is often around 5%, particularly in high-demand markets, though this can vary by location. Capex is usually lower, around 2-5%, since major replacements like roofs or HVAC systems are far off. To be safe, consider starting with standard percentages or slightly reduced figures until you have reliable data on the property's performance.

To refinance your Tesla under your LLC, consider lenders like Ally Bank, Taycor Financial, or National Funding, which offer business vehicle loans and may work with newer businesses if you provide a personal guarantee.

Texas is still appealing for first-time buyers, but affordability is getting tighter due to rising demand and property values. Emerging hotspots include suburban areas like San Antonio’s outskirts, Fort Worth suburbs, and cities like Temple and Waco. Stabilizing prices in cities like Austin may offer some opportunities, but competition for starter homes remains pretty strong. 

The 70% rule suggests buying a property for 70% of its ARV minus repair costs to ensure profit. For example, if a home's ARV is $100k and repairs cost $15k your target purchase price would be $55k.

In 2023, gross ROI for flips averaged 27.5%, but net ROI (after all costs) is usually 10-20%, calculated on the total investment (purchase price + repairs).

For a $70k home with $15k in repairs, selling at $100k might net $10k-$15k, or 12%-18%. If you hire a team, expect to spend 10-20 hours/month managing a 4-6 month flip.

I would regularly update your photos to reflect seasonal changes or recent upgrades, ensuring they are high-quality and well-lit. (probably the biggest key). Refresh your description by highlighting unique features, nearby attractions, and any new amenities added. Monitor guest feedback to identify and address areas for improvement, enhancing the listing's relevance and appeal. I try to get feedback from everyone who walks in. 

Good info! I always tell my clients to put a reminder on their phone to go off monthly to ensure they pay off all debts like this that can cause them to have higher credit scores. 

Yes, it's normal for lenders to ask you to unfreeze your credit until closing. They typically do a soft pull close to the closing date to ensure there are no new debts or significant changes in your credit profile. To help with identity theft risks, you can monitor your credit closely or use fraud alerts, which allow creditors to verify your identity before extending credit.

Woohoo! Congrats on your first deal! Wholesale fees are typically calculated by determining the difference between your contracted purchase price and the price an end buyer is willing to pay. Ensure you research local market conditions to ensure your fee aligns with property values, usually aiming for $5–$20k or 5–10% of the property's ARV. Always ensure your fee reflects the value you're adding for the buyer