
10 May 2024 | 28 replies
I see the same garbage in business brokering.Â

8 May 2024 | 0 replies
Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

8 May 2024 | 9 replies
Pop the address in there and see the basic figures for other units nearby.Then go do it yourself.

8 May 2024 | 7 replies
If you would like to see the guidelines for IRS auditors regarding Cost Seg, you can find them starting on Page 24 of this document https://www.irs.gov/pub/irs-pdf/p5653.pdfI would be very surprised if you could claim unpaid labor in your Cost Seg.Â

8 May 2024 | 33 replies
I beleive most people are smart enough to see the nightly rates and the total costs to compare to another property.

9 May 2024 | 19 replies
If I want to check what they've been doing I can see the photos they've taken, check my inventory or see how long they spent.

8 May 2024 | 8 replies
Accounting is not my strength so QB's user friendly portal AND bookkeeping services (extra charge) have been just what I've needed.I don't see the benefit in having separate accounts but perhaps someone else from the BP community can weigh in!

7 May 2024 | 2 replies
Hello, Please see the Homes for Heroes ROI Estimator.Â
7 May 2024 | 1 reply
I don’t see the sense in paying off my own house at presumably low interest rates, and exchanging that for a higher rate, variable interest line…unless I have a really good plan for not losing my house. Â

7 May 2024 | 4 replies
Plus, @Chris Seveney mentioned that a lender might take issue with the transfer, which is usually their right (see the bajillion posts on "due on sale" on here).