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14 July 2024 | 13 replies
@Dayton BourassaI would also be very cautious of thinking you can increase the current rent by 35%, I know you passed on this deal, but when analyzing deals it's important to be conservative when estimating rental income, if you are not conservative with your estimates then you need to account for more vacancy, which is essentially doing the same thing as being conservative.
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14 July 2024 | 3 replies
This means that you have the right to assign the contract to another buyer without needing the seller's consent (unless specified otherwise).Assignment Agreement:Once you have a signed purchase agreement with the seller, you, as the wholesaler, can then prepare an assignment agreement.The assignment agreement essentially transfers your rights in the original purchase agreement to another buyer (an investor or end-user).In the assignment agreement, you will name the original seller (assignor), yourself as the wholesaler (assignee), and the new buyer (assignee).The assignment agreement should outline the assignment fee (your profit) that you will receive from the new buyer upon closing of the sale.Execution:Both the seller (assignor) and the new buyer (assignee) need to agree and sign the assignment agreement.
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14 July 2024 | 9 replies
House hacking is essentially the cheat code to get started into real estate investing.Generally done by utilizing FHA loans and 2-4 unit properties.Basically, buy a primary residence, live in it or one of the units for 12 months, move out buy again and do it all over again.Each time you can utilize fha as long as you refi the former before you use it again.Great way to buy a lot of properties with low entry cost!
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13 July 2024 | 2 replies
Sundays are not a banking holiday, even if they're at the football game..Status updates and running ahead of schedule are essentials not luxuries.
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14 July 2024 | 14 replies
There is aircover which essentially is guest damage insurance but it's an absolute pain to deal with and get money out of Airbnb.
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14 July 2024 | 27 replies
This would essentially allow you to take over their payments with a very low down-payment, typically to just cover their closing costs!
12 July 2024 | 5 replies
Essentially, each property owner has two accounts, one in USD for rental income, property management transactions, and commission paid to me, now the other account is in a foreign currency and deals mostly with the rental expenses and transfers from their USD account to cover these expenses.Any suggestions would be greatly appreciated!
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12 July 2024 | 11 replies
Essentially delaying the eviction and costing us additionally vacancy.
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12 July 2024 | 5 replies
Hi Nina.If I were not experienced in land lording and property manager, I would look personally to the extent you want to learn or experience property management versus hiring someone else that you trust to do the job.Yes, the cost for a property manager is important but not essential- the cost between property managers are not double or triple the cost of others (say like attorneys in some areas of law or cars).
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12 July 2024 | 12 replies
Consistent design elements across multiple properties can create a memorable experience for guests and build trust in your brand.Increased Guest Satisfaction: A professionally designed space can significantly enhance the guest experience, leading to higher guest satisfaction scores and positive reviews.