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11 September 2024 | 7 replies
If you can't get the residents out that are not paying, then nothing will help.I would hire an attorney that deals strictly with evictions and start issuing eviction notices to anyone who has broken the laws of their lease.
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15 September 2024 | 19 replies
I've had to hire Real Estate brokers and Professional Engineers (PEs) as "expert witnesses" for defending various false claims.Regarding #3, the smaller your project, the less likely you'll see high impact study costs.
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10 September 2024 | 1 reply
Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?
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13 September 2024 | 24 replies
I was doing small quantities of about 2,000 a week.I decided to go with in-house (I hired someone) to see if sampling made a difference.
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9 September 2024 | 23 replies
Having things local is great for management, once you get into 1-2 hrs + commute I would hire PM.
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9 September 2024 | 14 replies
Let me explain that better, imagine your rehab is $100k, you would need to do part of the rehab, maybe $10k, and then you can get the funds for those first $10k reimbursed so you can keep progressing with the rehab.Given your experience, I would recommend you start with a moderate or light rehab, mostly cosmetic work so that you can do it yourself and won't get your profit decreased by hiring third parties.
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12 September 2024 | 27 replies
I built some new construction up in Ocala area and it was uber frustrating as well getting permits my GC I hired though finished the projects although it took way longer ( not his fault) So for us it was not a great investment we made a little return but nothing that was commiserate with the risk.I think this is an issue with FLA with the uber growth going on etc.
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12 September 2024 | 25 replies
As I understand they have already submitted to BG checks with the hospitals before hiring.
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13 September 2024 | 61 replies
Plus now that I'm established and have a portfolio, I pay a lot into the local economy by hiring contractors, buying materials, etc.
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9 September 2024 | 3 replies
If you're planning on financing the purchase, the lender will hire an appraiser.