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6 January 2025 | 9 replies
The owed amount is around $183,000 and the estimated value is around $250,000 the last time I checked.
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4 January 2025 | 3 replies
Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.
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5 January 2025 | 7 replies
Then I save that amount each month in reserves until I need them.
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13 January 2025 | 23 replies
Looked at salt water but found as the above posts discuss, there wasn't in actuality, less maintenance (just a different set of issues) and end of day, chlorine was still being used (even if a smaller amount).
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3 January 2025 | 14 replies
When I talked to a rep they said I could not be refunded that amount and now my trial has expired, so in order to spend my $48.61 I would need to spend $59 for the month.
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31 December 2024 | 10 replies
-A water heater issue resulted in repeated mismanagement—confusing unit assignments—leading to extra costs to fix the same issue 3 times and on each occasion "more fixes" needed to the water heaters that I plumber said was needed.
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3 January 2025 | 7 replies
An investor who has participated in a subject to transaction without lender approval should NOT assume that they are safe from note being accelerated because a certain amount of time has passed.
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30 December 2024 | 2 replies
A permanent fix rather than just a bandaid.
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16 January 2025 | 26 replies
The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation.
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6 January 2025 | 2 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.