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14 August 2024 | 4 replies
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
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14 August 2024 | 12 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.
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14 August 2024 | 5 replies
Do they perform well?
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15 August 2024 | 23 replies
Yes Every lender is different but my lender's stance on DOS is that we don't call the loan if its performing and paid on time.
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14 August 2024 | 7 replies
Generally, if you've got history of the lease performing (6+ months of pmt verification) and the lease amount is in line with the 1007, you won't have a problem finding an investor who will take this.
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14 August 2024 | 11 replies
I don’t want to see you end up as a mom and pop owner with a facility that is under performing and causes a lot of headache for you.
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17 August 2024 | 39 replies
Moreover, Mexico recently has had one of the world's best economic performances, with an unemployment rate well below that of the US.
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14 August 2024 | 6 replies
And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.
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14 August 2024 | 84 replies
CocRoi, Cashflow, and dscr would all be helpful as well as expenses Hey Samson, I have several S8 properties in Detroit and I'm extremely open with my numbers and performance of those over the years.Happy to share if you're interested (or anyone else).
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16 August 2024 | 277 replies
Thank you Ola, Yes I know for fact that this is a team sports and you can only go so far alone.