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14 November 2024 | 13 replies
You would also need to be at the project site every day watching the work and managing the contractors.
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15 November 2024 | 16 replies
If this sounds like something that fits you, go for it and make sure to get a property somewhere you can enjoy as well!
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11 November 2024 | 29 replies
I went out to Memphis in late July to set up a network of agents and contractors.
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20 November 2024 | 18 replies
I'm also checking with some contractors and attorneys in my network.
15 November 2024 | 4 replies
Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.
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20 November 2024 | 19 replies
Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.
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14 November 2024 | 6 replies
Then drywalling and everything else can be done by your contractor.
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14 November 2024 | 8 replies
I'm biased because BP Pros get RentRedi for free, but I enjoy it—and I'm currently only renting one property.
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13 November 2024 | 11 replies
Guest checks in, enjoys their stay9. 5 days before check out, auto message for check out instructions are sent10.
13 November 2024 | 8 replies
Being clear about what’s covered in the lease and by local laws can avoid misunderstandings and set their realistic expectations.If you do plan to carry out the cosmetic upgrades (because the property is overdue and of course you want to ensure your tenants are enjoying their home to the best of your abilities), try to schedule the repairs at times that minimize disruption.