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3 February 2025 | 2 replies
It was all really quick, and the time to complete everything happened a lot faster than I expected (which was a good thing).I was worried at first that I had to use all the partners that Rent to Retirement had, but it was really easy for me to shop around for different lenders with different terms and rates, insurance providers, and property management company.
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3 February 2025 | 1 reply
Last piece of advice is to surround yourself with quality service providers (real estate brokers, lenders, accountants, attorneys, PM's, Contractors, Insurance Brokers)., They will be instrumental to your business.
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21 January 2025 | 4 replies
Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance.
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16 January 2025 | 2 replies
I would get the insurance in my trust name.
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29 January 2025 | 20 replies
I own a property management company in WA, including Yakima.Here’s a rough breakdown of costs:- Management: 15-30% of revenue- Cleaning: $100-$200 per turnover- Utilities: $150-$300/month- Maintenance: 5-10% of revenue- Insurance: $1,500-$3,000/yearTools like AirDNA or Mashvisor can give you a solid idea of income and occupancy.
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27 January 2025 | 17 replies
-Will it be robust enough to track additional business expenses that are NOT tied to a single property (IE; Business insurance, Home office, ETC?)
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23 January 2025 | 11 replies
Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.
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28 January 2025 | 3 replies
Also, be sure to notify your insurance company that while you are still living on the property, you also have tenants.
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26 January 2025 | 2 replies
Taxes/Insurance- depends a lot on where you are located.The homes themselves- POH or TOH?
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30 January 2025 | 4 replies
and trailer stolen, workshop robbed 3 times, business bank account hacked and Not Insured (w a bank name like C#@$e), hip replacement, Botched oral surgery for sinus cyst 3 times, So Far, that caused an infection that kept me from working most of 2024 and just now recovering.SO Fire Sale February for me But I’m too broke to finish a punchlist to keep rental certificate open on top of living expenses and cover unexpected bills.Seeking micro bridge loan in the $5-10k range to be repaid at sale of house.I have another small single family paid off and rents for $950 as well.Any advice or suggestions for resources Greatly Appreciated