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6 January 2025 | 5 replies
I use National Tenant Network to run a tenant score and recommendation.
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7 January 2025 | 24 replies
In other words, I already have a checking and savings with BoA, but I would create a 2nd savings account (within my regular account) and put all the rental properties last months and security into that account (combined).Is this the correct way to prevent co-mingling of funds, or what would you recommend?
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7 January 2025 | 22 replies
At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.
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11 January 2025 | 9 replies
Next, I tend to recommend that clients stay away from inflated HOA fees.
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2 January 2025 | 14 replies
A good tax accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.
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4 January 2025 | 2 replies
In addition to that, platforms like HomeAdvisor or Angi are great for finding vetted professionals, and local builders associations or the Greater Beaumont Chamber of Commerce may have directories or recommendations.
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2 January 2025 | 1 reply
The extra income is not worth the disruption to our neighbors.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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6 January 2025 | 2 replies
----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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2 January 2025 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?