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Results (10,000+)
Dean Attali Opinions/experience on M&M Property Pros? (Kansas City PM)
7 May 2024 | 19 replies
Do you really want to pay these people to be the communicative link between you and your rental clientele?  
Marty Neville Property Manager not distributing funds
6 May 2024 | 19 replies
Your ineptitude may amplify your losses:(You're also jumping to assumptions.We've had out-of-the-county investors that we could NOT legally send funds to because they hadn't supplied us with the IRS required documents - and they didn't respond to our numerous communications to get them.Once we obtained the proper documents, we sent them their funds - by the way, we did send monthly Owner Statements, so they had the info to see what was going on with their portfolio.So, that brings up another question - what information have they been sending you and when have they been communicating?
Kristine O. Requiring a cosigner for a lease
6 May 2024 | 6 replies
Because the cosigner is not responsible for mowing the lawn or reporting maintenance issues, they have no rights to the rental, and I don't want to communicate with them about anything but the money. 
Sara Abernethy Reservation management software recommendations
6 May 2024 | 11 replies
I have onsite management, but I manage reservations and communications remotely (and I have a full time job, so I really need the software to keep me organized, not the other way around, haha!).  
Elena Scott How do property managers collect last month’s rent?
6 May 2024 | 8 replies
These types of tenants often do this because they don't want to save in advance, so they take the rent owed to you and use it to put down on their next home.Recommend you do a better job of communicating to the tenants that you will pursue every legal collection option if they don't pay last month's rent.Also, why are tenants NOT staying with you?
Mia Tam Move out walthrough to avoid potential false claims from the landlord
6 May 2024 | 3 replies
You might Want to try opening verbal communication with the owner ahead of time.Perhaps having the owner come over and look at the things you took pictures of ahead of time, might/ might/ be an intelligent thing to do.
Gillian Thackray Agent referral for leasing
6 May 2024 | 8 replies
My property management has been good about day-to-day items like appliances and turn overs, but poor at comprehensive solve like exterior leaks and only one individual has been good at communicating with tenants.  
Leo Parshukov What are my options?
6 May 2024 | 8 replies
Communicate: Depending on your options, consider having a face-to-face conversation with your tenants.
Matt Randall Question about investing with a DSCR Loan
6 May 2024 | 9 replies
Underwriting items for DSCR loans include appraisal, credit report, liquidity verification, borrowing entity documents, landlord insurance verification, and whereapplicable lease, verification of rent and security deposit receipt, and property management agreement.DSCR lenders should never ask you for tax returns, W-2 income, pay stubs, or company financial statements.A good DSCR lender can fund your DSCR loan in under 30 days.Pro Number 2: Loan StructureDSCR loans are generally structured as thirty year term, fixed rate and fully amortizing, with LTV up to 80%.To increase cash flow and boost DSCR to qualify for a higher LTV, you can even structure with a five or ten year interest-only period where principal payments are made over the remaining portion of the 30 year term.Most DSCR lenders can fund your loan with DSCR as low as 1.0, though 1.1 is where you will find the best terms.A few DSCR lenders specialize in no and low seasoning cash out refi for rental property investors who use the BRRR strategy.Compare this to traditional banks which generally offer lower LTV, shorter term, higher DSCR requirement, and 6 months of seasoning.Pro Number 3: ReliabilityDSCR loans are a growing component of the multi trillion dollar institutional credit market.While DSCR loan origination volume is growing fast, it struggles to satisfy the demand from institutional investors such as insurance companies, pension funds and credit funds that buy DSCR loans.For this reason, as long as DSCR loan program guidelines for subject property and borrower are met, there is a very high probability that your loan will be fundedwithout delay.Compare this to banks which may subject you to months of underwriting before ultimately rejecting your loan application for reasons unrelated to your application.Con Number 1: Strict GuidelinesThe largest and healthiest part of the DSCR loan industry is 1 to 4 unit residential investment properties in non rural markets where the As Is value and the purchase price is one hundred thousand dollars or higher, and the guarantor's credit score is 680 or higher.If an element of your transaction does not fall within program guidelines, your loan will either be declined or require an exception which can cause delay.DSCR loan program guidelines are constantly evolving to adapt to the demands of borrowers and institutional investors, and to respond to market and risk.A good DSCR lender will knowledgeably and transparently communicate program guidelines, proactively communicate to identify potential issues, and set expectations in a clear and thoughtful manner.Con Number 2: ShenanigansThe DSCR loan industry is fast growing and loosely regulated, attracting loan brokers, private lenders and salesmen who are not knowledgable about program guidelines, not expert in structuring your loan to meet your specific goals, not capable of closing your loan in a timely manner, and not truthful or transparent about loan terms.Con Number 3: Higher interest ratesGiven the demand for DSCR loans from institutional credit investors, the credit spread or risk premium has decreased, making DSCR loan interest rates from the most competitive DSCR lenders nearly the same as bank loans and conventional investment property loans.We should include an asterisk on this con because it is not always true and may not be true in the future.
Zachary Schimenz WARNING: Don't Use Ohio Cash Flow unless you want to lose thousands of dollars
8 May 2024 | 112 replies
Sounds like a lot of the issues are related to proper communication from BOTH sides,