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14 July 2024 | 4 replies
Aside from zoning issues, permits, and city/county requirements, which are highly variable, I'd like to get an idea of how many units/buildings and how to lay it out for most efficient use of space for those 2 acres.
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13 July 2024 | 0 replies
Howdy BP, If you were an investor with $2-4M to invest (leveraged against another property at around 6.5%) and looking for the lowest energy and management input but the highest free cash flowing asset, what and where would it be?
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11 July 2024 | 10 replies
Factor in energy-efficient appliances and construction methods if applicable.Insurance Estimates: Speak with insurance brokers who specialize in property insurance.
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12 July 2024 | 4 replies
Mentors for me have come in the form of friendships over time, but honestly, most of them were made at an IN-PERSON MEETUP....there is something about physical energy that makes a huge difference.Happy to connect to share some of my experiences!
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10 July 2024 | 3 replies
Make them based on what your tenants need (not want) which would also allow for them to customize (furniture use) to their tastes.I wrote a book on this a number of years ago that touches on a lot of these things, but it was focused on my specialty, "Energy Efficient, cost effective homes".
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12 July 2024 | 2 replies
Effective remote management hinges on strong organization, reliable local contacts, and leveraging technology for efficient communication and oversight.
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12 July 2024 | 5 replies
Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.
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12 July 2024 | 5 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.And, our clients who self-manage use a PM software to handle all property-specific tasks (tenant portal, requests, rent payments, etc etc).
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12 July 2024 | 16 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.