28 December 2024 | 6 replies
BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.
29 December 2024 | 23 replies
The rooms are unfurnished and the tenants are very low-maintenance (hardly know they are there). 2+Unit Buildings here and nearby currently sell for $1.5M on average.I bought the property 16 years ago, so my mortgage rate is very low (2.2%) Even though the property is cashflow positive, my bigger play is the average 5% yearly appreciation.I'm looking for others who are interested in house-hacking in this neighborhood.
28 December 2024 | 13 replies
Quote from @Cynthia Lee: Accepting even $1 could be seen as evidence of a payment plan, and the entire eviction process could be derailed.Once you start the eviction process, to not accept any payment unless it is a full payment in certified funds (cash, money order, cashiers check).
28 December 2024 | 8 replies
I am a very communal, tribe before self type of person even when I have such little to give I offer what I have for the good of the team.
27 December 2024 | 16 replies
In this way, neighbors may not even be aware its for sale until after it goes under contract.
28 December 2024 | 11 replies
We went in with what we hoped would be the winning offer because this is the one that checked the most boxes of everything we'd seen in months and we really like it.Am I even under contract for this property with everything in the address being wrong?
28 December 2024 | 11 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
28 December 2024 | 12 replies
So I may be okay breaking even the first year or two.
27 December 2024 | 8 replies
If I had grasped this concept five years ago, my achievements today would be even greater.
27 December 2024 | 34 replies
- Trying to meet the unrealistic expectations of newbie investors is tough/impossible for even the best PMCs!