
5 October 2024 | 2 replies
., but we thought initially it would be best to offer a cash down amount($20,000) and then offer a percentage of revenue over a three year time frame. (50% of management fees collected: yr1, 30%: yr2, 20%: yr3) until the balance of the "acquisition" price was met.Again I know I've left out a lot of info but this was just to hear some ideas or previous experiences.Some generals:Approx. 100 doorsMost are 2yr leasesMost are long term clients of the current companyAverage rent of $2300Thanks in advance and have a great weekend!
4 October 2024 | 7 replies
The part that seems to continuously get people (unfortunately, and for lack of better words) is the "no evictions, no bankruptcy, and no more than 6 non-medical collections."

4 October 2024 | 13 replies
During a final walk through, management sent photos of doorway damage that was extensive on 3 doorways, and will require a full door and door jamb replacement.

5 October 2024 | 1 reply
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

6 October 2024 | 1 reply
Property Management Software: If managing rental properties, use platforms like Buildium, AppFolio, or Yardi to automate rent collection, maintenance requests, and tenant communication.

5 October 2024 | 6 replies
If I could collect the amount t of money people on BP spend for belts and suspenders for so called corporate protection and confidentiality I would be a billionaire

2 October 2024 | 8 replies
His attorney said in order to provide a clear title, the seller would have to hire a law firm that was willing/able to do extensive research into heirs, and get them to sign off/away any rights they might have.

6 October 2024 | 36 replies
I could have hired a pro, completed the work in under 30 days, and then collected five months of rent, which would have paid for the contractor and freed up my time.I learned a lot from the experience and don't regret it, but I'm aware of my limitations and more selective about what I take on.

1 October 2024 | 2 replies
I have a rental in a new rural development that does not have city garbage pickup. Most neighbors just use local dumpster providers, is it my responsibility to pay for the dumpster? Should the tenant arrange for it an...

5 October 2024 | 15 replies
But if there are any additional taxes that the host has to collect and pass through to the county/state manually, they are included in the revenue there.Yes, cleaning fees are included in that revenue.Yes, that revenue is before Airbnb fees.