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9 June 2024 | 35 replies
I run in to all kinds of newbies who skipped college to get in to real estate and they have no idea how to communicate with adults or get what they want.
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9 June 2024 | 35 replies
We are a 3rd party administrator hired by an investor to help with communication, paperwork and deal flow throughout the transaction.
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8 June 2024 | 1 reply
I would appreciate any advice or tips on forum etiquette when communicating with experienced investors or in general.
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7 June 2024 | 3 replies
. - Management and resources..operate it like a hospitality business with very clear communication with guests and reliable crews both for cleaning and emergencies. - Consider guest amenities, house rules..hot tub..pet friendly etc- TLC.
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6 June 2024 | 3 replies
1) Communicating with property mangers on tenant issues, vacancies, etc. 2) Listening to/Attending Webinars regarding real estate investing3) Driving for dollars4) Searching MLS and online for on-market deals5) Working on the business's social media accounts 6) Posting and reading through real estate forums (Such as this one) for real estate purposes (finding deals, educational purposes, etc.)
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5 June 2024 | 3 replies
Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?
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6 June 2024 | 6 replies
Take a look at your agreement with the listing agent so see if there is a penalty, if not request terminating your agreement immediately or hiring a local PM to represent you to communicate directly with the listing agent to end the agreement.
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6 June 2024 | 1 reply
I've personally communicated with the inspectors, and they are aware of how the tenant is trying to manipulate the situation.
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7 June 2024 | 15 replies
A credible lender will be happy to provide them.Experience: Check how long the lender has been in business and their experience with similar projects.Red Flags:Upfront Fees: Be cautious of lenders asking for substantial upfront fees before any services are rendered.Lack of Transparency: If a lender is not transparent about terms, fees, or the loan process, it’s a red flag.Unrealistic Promises: Beware of lenders promising guaranteed approvals without a proper assessment or offering terms that seem too good to be true.Poor Communication: Difficulty in reaching the lender or getting clear answers can indicate potential issues down the line.By conducting thorough research and due diligence, you can confidently choose a reputable hard money lender that meets your needs.
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6 June 2024 | 2 replies
I would also look into implementing a PMS so that you can effectively manage all of your calendar’s & communication with guests.