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22 June 2024 | 1 reply
I accepted the 2.5 week wait because as a rookie I was worried I might not get someone else--the next day I had to turn down someone who would have moved in on our "available" date.
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23 June 2024 | 13 replies
I used to try and limit the customer's time talking with me on the jobsite....I pointed out to them that jobsite progress slowed down when they showed up, and started chatting with everyone, and that the project completion date was going to be pushed back.
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22 June 2024 | 13 replies
To reiterate, Effective [Date], the monthly rent for your unit will be increased from [Old Rent] to [New Rent].To make this easier, we will throw in free high-speed internet as part of the deal moving forward.If you have any questions or concerns regarding this change, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address].
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24 June 2024 | 58 replies
here are some things I personally did on my last one (which didn't appraise, so I sold it):-the demo-cleaning out junk in the garage dating back to the 1950s-mowing the lawn when it got 0.1" past the neighbors' liking-called 37 contractors to get 3 bidshttps://www.zillow.com/homedetails/108-Ellsworth-Ave-Elizabe...
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23 June 2024 | 67 replies
I finally paid a guy $2K to empty it and clean it up a bit and sold it through a wholesaler for $10000 to a young, big-talking investor from out-of-town who was positive that all he needed was some basic repairs (that he confidently told me he knew all about).To date, that property is still under renovation.
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22 June 2024 | 21 replies
(You must complete the sale before 3 years passes from your move out date, so it can’t be a rental for 3 years.)So…If you have a large capital gain that will become taxable when their lease expires (both federal and state income tax) you pretty much have to sell before that date or not for at least 10 years just to break even with selling now.
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22 June 2024 | 17 replies
The law also creates a landlord liaison position at City Hall.Effective in six months (I believe this to be July 1, but I haven't found an exact date anywhere.)I thought this was important to share, as many of the local investors I work with in the Kansas City Metro have very strong feelings pertaining to this ordinance, and are making very serious decisions pertaining to where they invest in the KC metro.Let me know if you would like me to email some brief slides explaining the ordinance, or if you want to read the actual ordinance in detail.
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24 June 2024 | 8 replies
Yields can dramatically spike up and down during the press conference.Additionally, the minutes of the Federal Reserve meetings are usually released a couple of weeks after the date of the decision and release.
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21 June 2024 | 1 reply
There is good news and bad news: good news is that there is a stepped-up basis as of the date of the gift of 50 percent of the gift date fair market value of the property as far as you are concerned for capital gains purposes.
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23 June 2024 | 14 replies
For example a C class rental in my market is on average functional but VERY dated looking like the finishes are from the 1970s or early 1980s.