
11 November 2024 | 4 replies
This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

13 November 2024 | 18 replies
I did a DSCR loan once and was amazed of the BS fees which were charged.

8 November 2024 | 31 replies
If the home has to meet special requirements (a common one is residential sprinklers), then you can potentially charge much higher rent and have higher cash flow on a long term lease to these operators.

9 November 2024 | 27 replies
They charge $1500, get you into the door, using you to find a deal, setting up partnership to make you carry 100% debt and all the risk, while ripoff 80% ownership (include the 10% for sponsorship to get loan)You definitely can get some useful information from their event but do deal with them?

5 November 2024 | 29 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

11 November 2024 | 16 replies
While it was tempting to make a margin on cleaning fees, we believed it was shortsighted; it was far easier to charge more per night with great reviews than to pocket that money and deal with cleaner turnover and unhappy guests.No Checkout Instructions: We believed people were on vacation, and since we already paid our cleaning team well (see point 1), we didn’t feel it was necessary to ask guests to do anything.

9 November 2024 | 10 replies
Most HMLs I deal with will do that; however, they will probably charge an extension fee.

7 November 2024 | 22 replies
They also have accountant access to my bank accounts and credit cards, so everything gets reconciled.

8 November 2024 | 3 replies
While these contractors are certainly out there, in my experience they also tend to be the ones that work with home owners directly and charge "retail" prices, not "investor" prices.I would shop around with lenders to understand how they work with their loans.