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6 July 2024 | 11 replies
If you don’t have enough capital for some renovations, then maybe A) go for a more turn key place that you can finance for your first propertyB) Live in the worse off rental to start and fix basic things yourself.C) look into FHA 203k loan maybe?
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10 July 2024 | 87 replies
I find it a more interesting question as to why it is a % commission instead of a flat rate?
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6 July 2024 | 2 replies
If it's only a more recent development, there may be a very plausible reason for it (e.g. the tenant just switched jobs and there was a delay between his last paycheck at the old job and his first paycheck at the new job).
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8 July 2024 | 42 replies
I'll have a conversation with them to take a more authentic angle, which is what I'm all about: https://www.youtube.com/watch?
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10 July 2024 | 112 replies
Real estate offers a more likelihood to achieve wealth compared to anything else.
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5 July 2024 | 4 replies
Obviously, this would require some market research on your end, but possibly a more profitable investment opportunity.
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4 July 2024 | 0 replies
I will be moving from the peninsula area of the bay to somewhere in the East Bay to a more affordable area (Possibly Hayward area or as far east around Antioch).
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4 July 2024 | 11 replies
Rolling (or backrolling) gives a more uniform sheen and finish on walls and ceilings.
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3 July 2024 | 15 replies
Any advice on how to find a more reliable property manager would also be greatly appreciated.Thank you in advance for your help!
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4 July 2024 | 7 replies
This general log gives an overview of your activities, but it might not be detailed enough for IRS purposes.Example 2: Detailed LogMonday, 7/1/247 AM - 7:30 AM: Monitored security cameras1:30 PM - 2:15 PM: Responded to tenant question regarding parking3:00 PM - 3:30 PM: Monitored security cameras4 PM - 4:15 PM: Checked mail and delivered to tenants, as necessary7 PM - 7:30 PM: Monitored security cameras10:30 PM - 11 PM: Monitored security cameras7 AM - 11 PM: Remained on standby all day for tenant needs/emergenciesThis detailed log breaks down your activities into specific time slots, which can provide a more precise account of how your time was spent.Best Practices for Record-KeepingBe Specific: Break down your activities into smaller time intervals, as shown in the detailed log example.Use a Logbook or App: Consider using a time-tracking app or a dedicated logbook to keep daily records.Document Standby Time: Clearly note the hours you are on standby for emergencies, but also separate it from active tasks.Include All Activities: Document everything from advertising to maintenance and tenant interactions.Consulting with a Tax ProfessionalGiven the complexity of qualifying for REPS, it's always a good idea to consult with a tax professional.