6 January 2025 | 25 replies
That being said, if I were the tenant, I'd say they were emotional support and then NOTHING can be done.
9 January 2025 | 35 replies
You can then "gift" them the alcohol for staying with you.
9 January 2025 | 11 replies
If you want it confirmed - then yes, confirmed, assuming that we're talking about a property that will be held as a rental.
8 January 2025 | 6 replies
If you’re not able to, then it may be better to sell the condo, take the profit (if you have some equity in the condo) and put it into a multi-unit to househack again.
9 January 2025 | 5 replies
I'd say just start your search with all 2-4 unit properties, and when you find one where the numbers make sense and it checks your other boxes (somewhere you actually want to live and house hack), then it probably makes sense.
9 January 2025 | 21 replies
Create columns for Name, Street Address, City, State, Zip and then contact info: Last Contact, Relationship, Status, Email & Phone.IMPORTANT: do NOT ask people for THEIR business, ask for referrals!
8 January 2025 | 8 replies
Can you then decide to list and sell the house two months later...yes.
9 January 2025 | 5 replies
Based on what you've told us, your rate should be at prime (7.5%), unless you are over 80% LTV, then it would be prime +1.Jeff
8 January 2025 | 1 reply
As I studied earlier, the first thing you should do is marketing, then get a call and do a property analysis to understand if it's profitable for you, then meet with the seller and sign all the necessary papers, then if there is a debt in the bank we do a reinstatement quote, then do a title search to check if there are any hidden debts, if everything is fine we look for an investor or flipper and sign an assignment of contract with him and wait for closing to get our money.
9 January 2025 | 10 replies
Account Closed first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?