Carolyn Mazzola
RentRedi vs Property Manager
9 July 2024 | 8 replies
You'll need maintenance people, inspectors, agents to show the property, etc.RentRedi doesn't handle any of that.Regarding finding a PMC:Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
John Moseley
Has Anyone Heard of Tim Bratz?
8 July 2024 | 42 replies
@James Wise may know of him since he is Cleveland based@Dan Heimer I ran into him at a mastermind and your pretty accurate with your assessment this mastermind has quite a few guru's in it.. and they do support each other all over social media..
Steve Sayler
Fired Prop Mgr, now getting charged with "Cancelation fees" - Is there a solution?
8 July 2024 | 17 replies
You would need to read the entire contract however, since there may be grounds to void the contract in its entirety if the PM company isn't doing that which they are required to, such as keep accurate records.
Curtis Delaurie
Fix and Flip beginners
8 July 2024 | 8 replies
As you gain experience, you can explore financing options to scale up.One thing many new investors wish they knew: the importance of accurate ARV (After Repair Value) estimates.
Bocondo Williams
Stripe payments on TenantCloud started charging $1.5 per ACH
9 July 2024 | 9 replies
If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
Cory Lucas
Am I being sold snake oil?
6 July 2024 | 29 replies
And most of the value in the opportunities has been scaled off by all of the other players.Ok I’m gambling on the other side….
Jake LaRoche
Where should I buy materials for my rental?
5 July 2024 | 5 replies
You might be able to find some materials online but you gamble on the quality.In my case this is what I follow:- Construction material locally so we quickly can resupply - Flooring locally (I find better prices and service this way)- Plumbing locally (I bought online for my first remo and quality was really bad) locally are more expensive but I don't gamble anymore as plumbing is something that is always a time constraints to complete and continue other works.- Electronic fixtures like fans, etc online.
AJ Wong
Short-Term Rental Financing: Guide to STR mortgage loans for rentalpreneurs
7 July 2024 | 14 replies
The key evaluation data points for STR investors are accurate records of rental income and occupancy and/or projections from local mangers and online tools.
AJ Wong
BIG HELOC Energy: Why large equity lines can be hard to get and what to do instead
7 July 2024 | 1 reply
At present, a fully drawn $250K HELOC with (optimal credit) would offer an indexed rate based off of Fed Funds or Prime + 3-4% rate (depending on LTV, Property Type, Credit and LA) currently pricing at between 8.5-11% (11.5-13% w/lower credit) and interest only payments of +/- $2000 but the qualifying rate and payment for underwriting would be nearer $2300+ (on the low end) plus the 1st mortgage, and accurate taxes and insurance.
Brandon Bell
How can I make 3.875% fixed-rate cash flow?
7 July 2024 | 10 replies
Wonder if it's possible to refine that to a more accurate amount.I'll have to ask for additional breakdown for more detail.