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17 October 2024 | 12 replies
How can I get the property inspected or who is best suited to perform the inspection on the property?
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17 October 2024 | 4 replies
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
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18 October 2024 | 7 replies
Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.
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17 October 2024 | 10 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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17 October 2024 | 4 replies
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?
16 October 2024 | 11 replies
How else can I verify past performance?
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20 October 2024 | 147 replies
If we built a spreadsheet of the overall responses from the Mafia and how many were veiled attempts at business, I would bet it is close to 80 percent.I know I am not the only one annoyed every day, so please post your thoughts here so BiggerPockets can review them.I do know someone who bought multiple properties with a former Mafia member and the properties are still performing so this isn't a referenda on how good the agents are.
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16 October 2024 | 6 replies
If you own multiple rental properties in the same LLC and, god forbid, something goes wrong with one or a few, the rest of the performing properties are put at risk since they are also owned by the same LLC.
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16 October 2024 | 7 replies
She'll quickly learn which properties perform best, how to handle tenants and contractors, and much more.
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24 October 2024 | 55 replies
The aforementioned Trainers used me because we actually performed.