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10 May 2024 | 116 replies
My general method is to assume (in the beginning) a sudden and drastic depreciation in order to stress test the financials and make sure the risks are managed properly to my risk appetite, which is quite hedged.
6 May 2024 | 11 replies
Your PMC is recommending the path of least resistance, because mold claims could be VERY expensive.Also, many insurance companies will NOT cover mold issues.So, call your insurance agent and see if this will be covered or not.At the same time, direct your PMC to get a professional mold test done to determine if there actually is a problem or the tenant is mistaken or exaggerating.
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6 May 2024 | 8 replies
Run owner reports.After testing a few apps, one should stand out.
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5 May 2024 | 2 replies
While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.
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6 May 2024 | 11 replies
The ones I have heard of/tested are as follows:Beyond Pricing, PriceLabs - are automated pricing toolsLodgify - is strong in website development (if you want to drive direct bookings) but from what I viewed are not as strong in the management toolsYourPorter - Cleaner communication toolOneRoofTop - decent tool set, heavy lifting, questionable sustainabilityMyVR - expensive but decent tool setBookerville - their customers love them, their technology appears to be old school (so does their name)I too am on the hunt for a solution because I want to become more passive, moving away from the daily grind of working "in" my business so I can work "on" my business.
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5 May 2024 | 6 replies
@Dan IllesYou can get software that will track the engagement of your posts and run A/B test.
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5 May 2024 | 5 replies
If any tenant fails a drug test they are immediately booted no questions asked and no eviction protections because the lease is signed with "oxford house" and not individual people.
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6 May 2024 | 25 replies
The public tends to believe they are all more or less the same, after all they all passed the same license test, right?
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5 May 2024 | 19 replies
While it’s possible engaging in one of these programs can shorten the time required to become a “power” agent considerably, it also may be a gigantic waste of money if marketing efforts are engaged without waiting for the all important test results.One popular career tract being offered in collegiate business programs across the world right now is marketing data analytics - analyzing the results of test marketing campaigns and applying/interpreting these results to form an effective and profitable marketing program.The other choice is to engage one of the many companies that will set up a generic real estate agency website for you, with the usual stock photos as well as MLS feed, create a blog and tie it to the new website, and start posting information and answering questions are various social media sites.After getting your feet wet, you can purchase services such as SEO, or a PPC campaign, on a a la charge basis, and track the results using one of many analytical programs available online.
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4 May 2024 | 0 replies
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