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12 February 2025 | 7 replies
Yes BofA is all over the country but if you go to your local branch it's pretty likely that loan officer and/or office wouldn't be licensed to operate in another state.
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20 February 2025 | 10 replies
We're going to see insurance rates climb for quite a while.
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8 February 2025 | 10 replies
I’ve never had a realtor go over one of my inspection reports with me.
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26 February 2025 | 13 replies
Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.
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13 February 2025 | 7 replies
(But not for a “I’m going to live in it 50 weeks out of the year and rent it out two weeks”, IMHO, if that was your idea.
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9 February 2025 | 3 replies
I just do all my bookings over airbnb, its too risky to go direct as the guests aren't covered by airbnb insurance.
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25 February 2025 | 14 replies
Quote from @Srini Rajamani: @Jared Smith At this point, I feel I'd like to explore other business ideas I have (including real estate) before going back to tech.
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14 February 2025 | 15 replies
To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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14 February 2025 | 7 replies
Timelines, budgets, quality of finishes, they all need to go well for your exit and if your in bed with a GC that only cares about himself then all those things will not go right for you, but he'll still get his money.People really underestimate the following:1) The cash they need to close and carry the project2) How hard it is to have a GC stick to what they promise3) How long it may take to exit through a sale
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20 February 2025 | 5 replies
As far as markets go, there are tons of options, what are your goals?