All Forum Posts by: Mike S.

Was looking in NestEgg and other softwares that routes maintainence calls to vendors after they troubleshoot the tenant/unit issue via app or phone call 24/7. They have vendors they work with and you add your own that hopefully know yr property inside/out.

What I do NOT need Nestegg for as I already have these automated ;

1.)All the marketing, tenant screening, pricing, lease writing is done by a realtor and free to landlord, as here in Boston tenant pays full month finder fee and realtor is happy to take to take on exclusive listings. I just sign the lease after they do their thing.

2.)Would have a vendor thats setup to do turnovers.

3.) paying confo fee, mortgage, heat etc bills its all been setup to pay by my bank automatically years ago.

4.) On the lease we specify they signup for automated digital payement but believe nest egg can send reminders if the tenats are late

What i am confused on is :

I know there may be questions from new or existing tenants asking where does garbage go or maybe they have noise conplaints from neighbors but id gather one of these softwares has a section for your tenants to find common questions and answers or maybe I just provide that info to the NestEgg folks and they relay that info

I like the rentals to be as passive as possible BUT i also like and dont mind to answer in depth questions the management software company may have and dont mind talking or researching for hours or days( if thats what it takes) with my construction vendors ,whom i am good friends with. I just dont want to be in contact w the tenants or make any time commitments .

I just like the idea of the tenants using the nest egg app to upload a video or pic of a problem and having the instant reponse... Maybe its too good to be true.. Ive never used it .. Curious if anyone has and their thoughts! I think nestegh is 29 per property. Local Pm would be around 200 and dont mind paying if Im getting a huge benefit...

Cheers

@Mike S.

I remember watching Real Estate in the very heart of the city take a barelly noticeable dent in 2008, it seemed as if it just leveled off for a year or so then gained insanely & steadily year by year soon after. Not so true for the outskirts of the city and surrounding towns that got hit hard. I'm just curious how the Boston/Cambridge market will react to to Covid19. The world will be changing from all this but seems a city that's a medical hub with all its Universities and innovation seems to stand a chance thoughts on rental and sales market ?

I remember watching Real Estate in the very heart of the city take a barelly notigable dent in 2008, it seemed as if it just leveled off for a year or so then gained insanely steadily year by year soon after. Not so true for the outskirys of the city and surrounding towns that got tmjit hard. I'm just curious how the Boston/Cambridge market will react to to Covid19. The world will be changing from all this but seems a city thats a medical hub with all its Universities and innovation seems to stand a chance rhoughts on rental and sales market ?

Just curious which is preferred for cash out used to purchase an investment property?

I've always took 5 year arms (back when they were advantageous. in rates)as new i'd pull need/want to pull cash every 3-5 years on the refi anyway. always was turned off by Heloc and looked that more as credit cards you have to pay back immediately

@Jay Hinrichs nope. But fogot to mention its 1/4 point, other costs seem typical. So curious, What rates were you used to seeing for this? Cheers

Just curious if anyone thinks rates will get better and if this is a good rate?

Does anyone know if act 20 would work for a short term rental in PR? If so any info on how to set this up? Am holding off waiting until I get there to open the bank account incase that matters. Only there month a year so act 22 is out.

If you have just a few rental properties is iy worth having an LLC for each or fo i just up ky insurance. My acvountant always tells my accounting for doing taxes will get way more complicated (more money)

@Josue Vargas funny timing. My friend over there (amongst other locals) have mentioned the same to me! With act 20 and 22 It would SEEM to be the last place on earth they would do it BUT read something about them doing it on Old San Juan or they atleast tried

@Jeremy Taggart thank you. Very good point. Id cover it either way but makes way more sence as a short term not only because the cash flow but the fact that its in the Caribbean and could block dates to get out of new england in the winter !

Building had written into the master deed some clause that has blocked complaints in the past. City has never been able to touch it yet. Hopefulyl helps it is surrounded by hotel and was orgibally designed a s a hotel condo