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26 November 2024 | 21 replies
As I'm sure most of you know, a long-term rental is simple since the only recurring expense I own is the mortgage, whereas with a STR I'll own the mortgage, internet, utilities, furnishings, cleaning fees, etc. which just makes my projections a bit foggier.I'm looking for feedback on the below expenses and wondering what else I should be thinking about, that I don't currently have listed.
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25 November 2024 | 9 replies
I most definitely 2nd getting the utilities mapped first before digging.
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1 December 2024 | 31 replies
I can't think of a more extensive network of investors to lean on for advice than BiggerPockets.
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26 November 2024 | 14 replies
There are strategies that you can utilize here that can make it easier as well.
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26 November 2024 | 4 replies
I start with cleaning and repairs, then I apply it towards utilities, legal fees, late fees, and rent, usually in that order.I also have a holdover clause that says the tenant is charged 4x of the monthly rent, prorated daily if they hold onto the property after lease termination.
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23 November 2024 | 3 replies
Or, I’d have to get an extension of the closing date, which kinda defeats the purpose/competitive edge of a cash offer.
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22 November 2024 | 7 replies
Negative cash flow is difficult especially on more extensive tenant turn overs or when dealing with a PIA tenant.
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27 November 2024 | 8 replies
Did they have bank statements showing utility payments for the rentals?
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23 November 2024 | 9 replies
Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.
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18 November 2024 | 8 replies
Instead, can you just cover the utilities or go to the laundromat.