27 April 2018 | 2 replies
That with solid liability insurance is all that I feel I need (LLCs are very expensive and cumbersome to maintain in my state).
30 April 2018 | 5 replies
It's very difficult to find an actual manager or hire a private party as there are liability and insurance issues.
2 May 2020 | 2 replies
Utilities are generally public and you can call them to get averages, taxes are public as well and can be pulled either from a assessor website or at their office, insurance companies can give you cash value and replacement value quotes by giving them an address, general rule for running calculations for vacancy is 5-10% of gross income, I have seen maintenance expenses all over the map (anywhere from $300-750 or a % of the rent - those vary depending on the number of doors in the deal as well as how much deferred maintenance has to be dealt with or how much rehab you are going to do to negate the deferred maintenance), contracted services, call a few landscapers and get quotes and use those for your analysis.
28 April 2018 | 7 replies
In the true multifamily arena Duplexes, Tri-plexes, and Quads are not referred to as multifamily in regards to deal structure, financing structure, and underwriting standards, If you're looking at 5 Units and up your local residential agent may not be the best fit for this deal, you may want to use a commercial broker.
30 April 2018 | 4 replies
If you are new, you may be held to their standard loans i.e. 15 year term 5 year apr with a seasoning period, but if you are more of a seasoned investor and show a history, they may be more likely to be lenient with their terms.
23 June 2018 | 22 replies
With the standard 3x income requirement, you'd need someone with a 100k income.
25 May 2018 | 11 replies
I believe (but do not know for sure) that no title company will insure a tax deed in any state without a quite title action.
29 April 2018 | 6 replies
Most cant call title company and get a date down on the phone We could and did. and most wont take the risk which we did.. there is a lot of risk buying sub too with no title insurance or paying off a loan with no title insurance.. but that's were the big money is made in this field.I would walk into the homes we bought and many times the people leave the 200 plus direct mail pieces they received right there in a neat pile on the counter..
24 May 2018 | 26 replies
So $800 rent and price no more than 40k per door to get the 2% rule.So in general, you do get the 2% rule with a $750 rent wherever you can get a unit in tenantable condition for 37k.I would add that besides market value of the land, average cost of construction of new house is $150 per sqf and insurance puts replacement value at $70 per sqf.
2 May 2018 | 5 replies
Did you make tenants upset because something was not to standard or meeting code?