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4 December 2024 | 7 replies
Yes, you should have to pay for them.Blinds typically pop into a clip, so that might be 5 minutes to repair.
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4 December 2024 | 9 replies
(just looking for a ballpark here)- Average number of room turnovers per year - PadSplit says the average tenant stays 9 months- Average cost of each room turnover (room & carpet cleaning, repairs due to wear and tear)- Repairs and maintenance - how much are you typically setting aside for this?
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5 December 2024 | 20 replies
Also remind them that they may be held responsible if a repair is necessary because they failed to change the filter.
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4 December 2024 | 8 replies
It provides more clarity for me as this is new and uncharted territory - especially how the repairs/draws take place seeing that this was a vacant fixer-upper and the lender in 1st lien has a rehab loan.
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6 December 2024 | 27 replies
For reserves, you'll want 3-6 months of potential expenses saved (repairs, vacancies, unexpected costs).
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4 December 2024 | 17 replies
Total cost (purchase + repairs) is 49,000, that is approx 64% of ARV, less than the recommended max of 70%.
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17 December 2024 | 86 replies
I saw last week that you can get trained on the JOB to repair Elevators and start at $150,000 a year.
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4 December 2024 | 0 replies
I took on the challenge and repaired them both myself.Many people have told me that real estate isn’t worth the hassle, especially when starting out.
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3 December 2024 | 1 reply
We did floors, and multiple interior repairs ourselves while living there.
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3 December 2024 | 21 replies
I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.