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19 January 2025 | 6 replies
Hi @Zhong Zhang I have used vacancy hacks over the years to get personal properties under 1% when turning tenants over. 3% increase depends on renewing or getting new tenants, when renewing tenants that's a safe amount.
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16 January 2025 | 5 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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20 January 2025 | 32 replies
Personally, I've bought older homes since I invest in mobile homes myself.
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17 January 2025 | 19 replies
These are usually from personal connections we have made through the years and the investors usually want proof of experience to participate in any deals.Can you recommend any lenders in particular for SBLOC product?
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15 January 2025 | 6 replies
They seem to be a reputable company, but nothing beats personal testimonies!
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23 January 2025 | 16 replies
If the management fees stay in Sch-E, it is exposed to ordinary income both at Federal and state level, which is way higher than SE taxes of 9.55% (15.75-6.2 (personal social tax already maxed out)).2.
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14 January 2025 | 7 replies
@Brice Alef-TorrisiHaving one checking account per property is an excellent way to keep your property finances separate from one another and your personal finances.
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16 January 2025 | 6 replies
From a personal standpoint I target 70% LTV for any investment I have that way gives me ability to sell it if I need too
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22 February 2025 | 18 replies
Some will even allow you to hire their maintenance teams on an as-needed basis.TaskRabbit & Thumbtack – While hit-or-miss, these can be useful for small jobs when in a pinch.Additional Considerations for Remote Management:Emergency Plan – Have a go-to person (trusted neighbor, friend, or even a tenant) who can physically check on things in case of an urgent issue.Lease Clauses – Since you’ll be remote, make sure your leases clarify expectations for minor maintenance responsibilities (e.g., tenants handling small fixes like unclogging drains).Vendor Relationships – Set up accounts with appliance repair services, locksmiths, and other key tradespeople so they’re familiar with your properties.Tenant Selection & Retention – With your solid rental history and below-market rents, you’re in a great position to minimize turnover, which is key for remote management.Sell or Hold?
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15 January 2025 | 13 replies
Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.