John McKee
Don't forget to file your BOI Reports by the end of the year
27 December 2024 | 6 replies
Bankers will be asking for proof of this filing as you get loans in the future.https://fincen.gov/boi
Elvon Bowman
First time acquisition
13 January 2025 | 11 replies
At the end of the day, 99% of sellers and brokers only care about your surety to close (I leave out 1% that might care about HOW you operate your deals, regardless of price paid).The fact that you have never closed a large transaction AND are not providing all your proof of funds up front and/or talking with brokers about where the money is coming from, will give them some trepidation.
Matt Royle
STR on a L1B Visa
7 January 2025 | 3 replies
Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.
Kevin Greer
Do you need a Realtor license to be a property manager in Colorado?
7 January 2025 | 9 replies
As a co-host for short term rentals, you may not need a license as long as you're not crossing over into activities that could be considered brokerage activities like handling any contracts, collecting rents, doing any accounting, approving tenants, etc.
Brett Riemensnider
First Time Landlord - Tenant Placement In Minneapolis Area
13 January 2025 | 6 replies
For example, if you don't specify if a certain item is reoccurring or 1 time, you can't collect it.
Collin Hays
Best Practices on cancellation credit card chargebacks?
15 December 2024 | 15 replies
The merchant also failed to provide proof that the cancellation policy was properly disclosed to the cardholder."
Jorge Abreu
Evaluating Property Managers
28 December 2024 | 1 reply
First things first, when assessing property managers, it is crucial to prioritize their ability to collect rent and manage delinquencies.
Jerell Edmonds
Spilt utlities or add another meter ??
1 January 2025 | 12 replies
If your average heating bill is $150, you may not collect enough in the winter months when the bill reaches $225 but you'll collect extra in the summer when it drops to $65.
Rene Hosman
How much time do you spend prepping for taxes?
14 January 2025 | 28 replies
Less than 10 minutes and they are done.Self Managed, Low Volume - these folks collect the same rent every month, have minimal expenses beyond their mortgage and find it very easy to collect the few documents they have to report it.
Alan Asriants
The realities of when you start acquiring more units - unexpected vacancy
14 January 2025 | 9 replies
60k is definitely a hit and unfortunate for sure but it sounds like you have two opportunities to force appreciation up front and collect off the back end.