
11 January 2025 | 7 replies
@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps:Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period.

13 January 2025 | 11 replies
I wouldn’t lower your credit score requirement or you’re going to end up needing to evict again and having turnover expenses.

3 February 2025 | 47 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

13 January 2025 | 1 reply
So ultimately this may require a discussion with counsel, and you may have to settle on splitting the cost.

13 January 2025 | 3 replies
That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.

13 January 2025 | 11 replies
If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

7 February 2025 | 13 replies
I told her that I’d hire her at her minimum required salary and give her a small signing bonus.

13 January 2025 | 1 reply
Negotiations focused on securing the property at a favorable price, enabling us to achieve a profitable margin in a highly competitive market without requiring additional renovations.

10 January 2025 | 8 replies
Piling on...all occupants who are 18 or older (or legal emancipated minor) should absolutely be required to make application.

9 January 2025 | 13 replies
More often than not they fess up and kind of confirm they don't meet requirements if that is the case.