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28 August 2024 | 32 replies
And a lot of start-up companies are migrating to this city as well, because of the efficient costs of living, the OSU campus that has thousands of students graduating and looking for jobs locally, and the availability of land.
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26 August 2024 | 3 replies
If the tenants pay rent on time, communication is good, and the property isn't torn up offer the MTM rent and keep the boat sailing.
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25 August 2024 | 5 replies
I am thinking it is better to leave all communication of this problematic tenant to the PM rather than me directly communicating and sending my own contractors to save some money.
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26 August 2024 | 11 replies
I was only thinking of outsourcing written communication through messaging as most of that is general inquires and 90% of those can be pre documented.
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27 August 2024 | 11 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.
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27 August 2024 | 12 replies
Their agent can do as little as show them 1 or 2 houses if they communicate what they want and the agent is able to find it or show dozens of houses with no sale in the end.
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26 August 2024 | 8 replies
Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.
26 August 2024 | 16 replies
I communicated with turnkey providers in Memphis and one that has properties in Cleveland, Detroit and St.
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26 August 2024 | 24 replies
Best to compare programs based on rates, reviews, communication and terms!
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29 August 2024 | 33 replies
Stop all communication with them, block their number, and move on.