Jason Turgeon
Real Estate Software Roundup (long)
20 April 2024 | 33 replies
Because I needed to track expenses in various ways (across both properties and two different schedule C incomes), I had to use what Quickbooks calls "properties," "classes," and "projects," and using all of these bumped me into the highest and most expensive tier, currently $970/year with the annual payment discount.
Steve Saenz
Private lending documentation advice
18 April 2024 | 8 replies
I have someone asking $35K for 3 years and offered 15% annual return...but I looked up TX and the most you can charge is 10% without violating usury law...help???
Nicholas R Foster
THE NACA PROGRAM
21 April 2024 | 25 replies
I would also say that they tweak their program annually, so some of the things people described from past experience is no longer accurate.
Josh Lyons
What is a ballpark percentage to assume SFH rents will increase per year long-term?
18 April 2024 | 8 replies
I genrally assume a 3% rule annually.
Jinesh Patel
Tax advise for high earner w2 couple.
18 April 2024 | 4 replies
For example, my first property in Seattle was a $350,000 property, separating the land value ($150,000) from the improvement value ($200,000) enables an annual depreciation deduction around $6,000 over 27.5 years.
Brianna Johnson
My mortgage has went up twice
18 April 2024 | 7 replies
You should be getting an annual escrow review showing new tax and insurance charges and how that affects your payments, usually you can either send the difference as one payment or they raise your monthly payments to cover it.
Julio Gonzalez
Are You Reviewing These 6 Key Areas of Your Business?
18 April 2024 | 6 replies
You should be doing this annually at an absolute minimum to ensure you are on track with your goals and can course correct if needed.
Bryant Hull
How much should I value the purchase of a property management company?
17 April 2024 | 39 replies
Management company fee is 8% of gross collected rents = $80 per monthas a buyer of a property management company you would pay 1-1.25 for that income stream... which is an annualized number. $80 * 12= $960 *1 = $960 or 80 * 12 = $960 *1.25 =$1200 that would be the "value" of that one account.
Jonathan Small
How to account income from multiple properties on a single 1099
17 April 2024 | 6 replies
@Jonathan Small your PMC should give you an Annual Owner Statement with a breakdown of income & expenses for each property.Give this, the 1099-Misc they sent you and add any property taxes or insurance you paid and bank 1098's to your CPA.
Robert Zajac
Questions/concerns about normal PM fees/expectations for Cleveland Ohio
18 April 2024 | 12 replies
More details/example fees: Management Fee: 10% of gross rent collected, $50 minimum per unit.Leasing: One full month’s rent upon execution of a leaseOther: 10% will be added to each invoice for any repairs, maintenance, improvements, landscaping, and snowremoval for the Property 50% of late fees collected $50 lease Renewal Fee $50 per utility turn on $25 posting 3 day notice $100 per court appearance witness fee $50 tenant removal with bailiff or police $50 to meet inspectors for housing voucher programs, occupancy certifications, and/or POS or rentalinspections Broker may charge to offset Broker expenses for postage, key copies and other misc. expenses $100 set up fee $120 annual consortium fee ($60 March 1st, $60 Sept 1St)Given all this, how do I input it when I'm making calculations for a potential investment (do I put this in as >10% like 12%, 15% or 20%?