My key goal is to get educated as well as identify sponsors with a consistent track record and good operators who underwrote and have operated properties well.

Generally there is consensus that DSCR Lenders can only offer a 1% prepayment penalty for up to 3 years in MI, but some lenders have recently reportedly been flaunting this rule - I would just tread carefully here in this area, generally not advisable to get potentially tangled up in a flawed legal doc with a non-sophisticated or fly by night lender

This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.

Your property management should send you pretty clear reports at the end of the year so as to obviate your need for such.If you have more than 3 units and self manage I suggest software - especially if you are considering expanding.I find Stessa usefulI also use buildium but not incredibly thrilled with it.  

Satisfied guests aren’t just likely to leave glowing reviews—they may also spread the word to friends or choose to rebook themselves, keeping your property consistently booked and increasing your revenue!

I can share a full report with a lot more metrics too if useful.

Some insurance companies are asking to see the home inspection report in order to give you insurance or to install a $750 water shutoff valve if the home is older than 20 years old.  

This is consistent among ALL appraisers.

We pull at least 50,000 records per month consisting of high equity and preforeclosures.

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