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7 October 2024 | 2 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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9 October 2024 | 16 replies
Most of my tenants leave my place spotless - but that is due to good tenant selection.
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8 October 2024 | 2 replies
If a quit claim deed was used to transfer title in a normal sale one just wants to make sure the chain of title seems clear and that the owner issuing that deed had clear ownership.This is why we have title searches done and pay for title insurance to research these sorts of things and to protect us against the oddball unforeseeable circumstances.
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13 October 2024 | 23 replies
I don't know all of them but have been on BP long enough that if I were you, I'd talk to at least @Jay Hurst and @Devin PetersonYou could also bypass all Tax Return programs and go NonQM of some sort, such as a bank statement or other type, but you'd still have factor in your rentals.
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8 October 2024 | 15 replies
Like windows open, lights on, door left open, that sort of thing.
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8 October 2024 | 8 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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10 October 2024 | 28 replies
Most markets will have some sort of local STR host group on Facebook you can join, or I would even do a quick search via Airbnb and find a host that way and message them and ask them to lunch or coffee to pick their brain.
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9 October 2024 | 5 replies
So partial deduction allowed up to 150kI would be careful giving him a deal on rents as the IRS could classify this as some sort of hobby or non investment property due to not being at or near market rates.
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11 October 2024 | 41 replies
That's sort of the catch, the larger the building and the more amenities it has, the more rules you will run into. 2-3 story walk-ups in nice neighborhoods could be a good place to start, lower HOA fees too.
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9 October 2024 | 23 replies
Provide a nice place to live, where you show pride of ownership and they will typically respond with taking care of your place.But also, being selective in who you rent to.