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6 June 2024 | 6 replies
Take a look at your agreement with the listing agent so see if there is a penalty, if not request terminating your agreement immediately or hiring a local PM to represent you to communicate directly with the listing agent to end the agreement.
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7 June 2024 | 15 replies
A credible lender will be happy to provide them.Experience: Check how long the lender has been in business and their experience with similar projects.Red Flags:Upfront Fees: Be cautious of lenders asking for substantial upfront fees before any services are rendered.Lack of Transparency: If a lender is not transparent about terms, fees, or the loan process, it’s a red flag.Unrealistic Promises: Beware of lenders promising guaranteed approvals without a proper assessment or offering terms that seem too good to be true.Poor Communication: Difficulty in reaching the lender or getting clear answers can indicate potential issues down the line.By conducting thorough research and due diligence, you can confidently choose a reputable hard money lender that meets your needs.
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5 June 2024 | 3 replies
Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?
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6 June 2024 | 1 reply
I've personally communicated with the inspectors, and they are aware of how the tenant is trying to manipulate the situation.
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6 June 2024 | 2 replies
I would also look into implementing a PMS so that you can effectively manage all of your calendar’s & communication with guests.
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7 June 2024 | 8 replies
There is nothing illegal about direct communication between buyers and sellers.
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5 June 2024 | 5 replies
The biggest problems we faced were scheduling and communication.
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5 June 2024 | 4 replies
By nothing I mean no damage to the unit, rent on time, and good communication.
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5 June 2024 | 10 replies
Believe it or not, Ben Carson the great neurosurgeon was born in poverty and raised by a divorced mother who had emotional problems.
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5 June 2024 | 8 replies
But if you decide to self-manage, you need to consider (at least):-management software (rent management, communications, maintenance requests and tracking, etc.)