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My property manager works for Remax and charges 10% which is standard. I dont do anything except when there's repairs or something she needs to get money or a decision from me about.
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utilities are stupid expensive to hook up. To the point where you’re better off going with solar and an lp generator as backup.
I mean it all depends where you are in relation to the existing power lines but a guy down the road from my land said black hills power wanted close to 100k to run a line a couple hundred yards.
he just went with solar, well water and an lp tank with an lp generator if his solar fails.
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If you’re ever looking for someone….got a CPA, Masters, and run Operations for a tech company we took public.
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Any tips on how to get started? I want to buy something in Washington as an investment property but not sure I even get how getting a mortgage works. Have done some basic looking up but always better to hear from actual experienced people currently doing it versus articles.
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I'm trying to cop a condo how much over asking is a good price? house is 190 I was going to offer 210 max lol
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You should narrow down your criteria Ex. What area in Washington? Multifamily? Single family? Short term rental? Long term rental? how many bedrooms/bathrooms?
I'd say first step is talk to a lender. They'll tell you how much you can afford.
Use https://www.biggerpockets.com/ as a reference. Type in any question you have into the search box (magnifying glass), people have asked whatever question you've asked before and discussed it in depth.
I started out with a turn-key property. A company buys a property, renovates it, sells it to me (at retail price), and has me setup with a property manager by closing.
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Nice, what state?
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what turn key provider did you use? I’m looking out of state and thinking turn key might just be the way to get my feet wet
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NJ
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Don’t be your only competition aka bid against yourself. See how long the condo has been on the market for. Unless im absolutely in love with a property I’m not offering them asking price. You’d be surprised, not everyone is being outbid or offering above asking. Especially for condos.
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i do love the place but i have to love the price... so its within my budget and i definitely dont want to overpay too much but know in this market you will have to... my sister bought a house sept 2020 and paid 10k more than asking...i can do an escalation clause where i outbid the highest bidder automatically after every 500 and up to a certain amount... so for example say i offer 1000 over asking at 190 but have escalation cap to 15k so i can outbid the next person every 500 dollars up to 205k... if someone bids 191 or more i automatically outbid them but if someone offers over 205k i already lost my offer to them
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You won’t be outbid (going over asking) on a condo in NJ/NYC
House, yes.
House, yes.
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I used them more than 5 years ago, but the company's name is Norada. Things worked out great for me, but I'm not going to vouch for them! Please DYOR. Check out biggerpockets.com. Check out "turnkey providers" in the search function and see what other real estate investors are saying.
I bought the property for 100k in Kansas city, Missouri in 2016. 5beds/3baths in a "C" area. Mortgage + Property taxes is about 800$/month, renting for 1250$ today. (property manager takes 10% cut, tenants pay utilities). Property appreciated 50%+ since then.
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Wrong thread.
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Starting offers are at least 20-25k over listing in SoCal …at minimum
property I wanted to get in on earlier this year sold for 70k over listing
property I wanted to get in on earlier this year sold for 70k over listing
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lol. We bought literally a whole block in St. Louis for like 20k years ago. 4 multi units and only 1 tenant who wouldn’t move. Held for 10 years and SLU bought the land from us. Trying to get back to STL now and get something there again. Missouri is nice for what you get
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Just had a tenant move out and she left a bunch of her **** all throughout the house. Couch, full fridge, pantry still packed with food, cabinets full of dishes, along with a bunch of miscellaneous crap scattered through the whole house 
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Can’t you deduct a cleaning fee from her deposit?
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That's why you have them pay security. Use it.Just had a tenant move out and she left a bunch of her **** all throughout the house. Couch, full fridge, pantry still packed with food, cabinets full of dishes, along with a bunch of miscellaneous crap scattered through the whole house
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And that’s where it’s going
But just dealing with the headache of it and hopefully the tenant doesn’t try some BS in court later
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Just document with pictures and keep your reciepts and you should be fine.Just had a tenant move out and she left a bunch of her **** all throughout the house. Couch, full fridge, pantry still packed with food, cabinets full of dishes, along with a bunch of miscellaneous crap scattered through the whole house
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I was looking at Multifams in STL a year or 2 back. Found some realtor lady on Twitter that was promoting the investment properties in that area. Never ended up pulling the trigger though
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Yea I doubt this dumb broad would go through the court systems, but it’s California, and the renter has waaaaaaay more protections than the landlord
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so i copped the place... and heres the catch i paid 20k over asking but the listing was within my budget already anyway... it was the best place ive seen from my 15 plus viewings and not the most expensive either... the first one i wanted was really nice and slightly more expensive but i didnt get a bid in at all...put it this way i put my offer in and won because of 5k extra i said id put...i already bid 15k extra on the listing of the house they said the listing was matched with my offer and said all offers are willing to waive inspection and appraisal....i told my real estate agent no i am not willing to waive that... tell them i will pay 5k extra on top of my original offer and they mentioned i was a first time home owner just worried about the home so they took the deal...
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Sounds like you lucked out. Congrats on the home. Imo now is really a terrible time to buy a house, everything is way overpriced and couple that in with competing with businesses buying up homes like crazy it’s a mess. Folks are waiving inspections just for chance to make a competitive offer and still not even holding a candle to all cash offers with no contingencies. Only silver lining is interest rates are really attractive now. It’s a shame homeownership is really slipping away from average Americans.
