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8 October 2024 | 14 replies
They'd be a partner and help provide solutions to operational challenges when scaling, we'd bring tech in like Breezeway for scheduling, give them a company card with spend limits to buy supplies, they even ended up landing a deal with a local laundromat to wash and fold there after-hours to make their lives and ours easier.Truly a win-win.
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6 October 2024 | 33 replies
Ok here is the thing Darnell, for private lending we weight ~40% on the property "deal" itself, and 60% on the Operator themself; if they know what there doing, can they pull it off, do they have the "chops" for it, are they contingency ready, etc etc..
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4 October 2024 | 1 reply
One of those rules required the STR platforms to remit the San Antonio HOT tax directly rather than having the operators/hosts remit and pay that.
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4 October 2024 | 9 replies
Just buy your first rental as a house hack to get your foot in the door and get some operational experience owning/ operating Multi-family.
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4 October 2024 | 8 replies
Hello BP,I'm wondering if any experienced operators out there can shed some light on best practices.
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4 October 2024 | 8 replies
.-- If you're the lessee (and not the deed holder / owner): COH will require written consent by the owner to the use of their property as a STR and to accept liability for taxes if the STR operator does not adequately remit Hotel Occupancy Taxes (HOT) as per local regulations. laws—a responsibility most owners will be reluctant to accept.-- Expect a grace period of two months once the new regulations are enacted into law.
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30 September 2024 | 5 replies
For a core deal, I would assume it would be lower, but again, I don't know what they are doing to drive those returns.Relying on markedly lower loan rates is no guaranteeRelying on more core buyers is only likely to happen when pricing (as measured by cap rate) is higher than prevailing interest rates.Unknowns:What is business plan to generate those returns?
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5 October 2024 | 1 reply
Hi Samuel,When considering how to pay off a loan faster, both methods you've mentioned—making a large principal payment at the end of each year versus bi-weekly payments—can be effective, but they operate differently.Large Principal Payments: Making a large payment once a year can significantly reduce your principal, leading to lower interest costs over the life of the loan.
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3 October 2024 | 7 replies
Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score. 80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F#2One thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.
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5 October 2024 | 9 replies
If the opportunities are limited and cash is plentiful, pay down debt, increase rents and make everything operate better.