
2 November 2024 | 64 replies
After seeing a video somewhere, I made the tool in the photos, using wood, some screws and stick-on rubber safety tread from Harbor Freight: https://www.harborfreight.com/self-adhesive-rubber-safety-step-tread-98856.html.

3 November 2024 | 8 replies
@Glen Michael we charge an onboarding fee to owners, which they ALWAYS complain about, but they don't want to undertand why it's so important.We use the funds to check:1) Ownership: we verify property is actually properly deeded to their name, LLC, etc. - We've found issues where owners was NOT on the deed and was scammed- We've also had to patiently explain to owners that since an LLC owned the property, that the management contract had to be in the LLC name and we needed proof they could sign for the LLC.2) Property Taxes: we make sure we know the status, to avoid tax foreclosure issues.- Took over several properties for an out-of-country owner last year that we're in the midst of tax foreclosure.

6 November 2024 | 12 replies
Also hearing better than market results from those who are self managing as consumers continue to buck excessive fees by seeking to book direct.

3 November 2024 | 5 replies
The city is very open to this setup, with a clear permit process: $500 initially, plus a $100 inspection fee.

2 November 2024 | 2 replies
Let me demonstrate why you should not rely on this approach.Suppose you want to compare two properties.Property A:Rent: $1,800/MoPrice: $300,000Taxes: $2,000/YrInsurance: $1,500/YrAssoc Fee: $250/MoProperty B:Rent: $1,600/MoPrice: $300,000Taxes: $800/YrInsurance: $600/YrAssoc Fee: $35/MoCalculating the rent price ratio for both propertiesProperty A: $1,800 x 12 / $300,000 = 7.2%Property B: $1,600 x 12 / $300,000 = 6.4%So, Property A is the better property!

4 November 2024 | 8 replies
You probably also have an opportunity to trim some fat on your PM fees if you still want to outsource the management because that's heavy.

1 November 2024 | 17 replies
Loan amount is 283,500 for the two properties, origination fees are around $4,300.

1 November 2024 | 7 replies
The fees are high, and the rate might be a little high.

3 November 2024 | 1 reply
Only way you made money on this deal, and avoided everyting being eaten up with title & recording fees and transfer taxes, was by flipping the contract - also known as wholesaling.Why can't you just call it what it is?

2 November 2024 | 2 replies
I am not sure what the pushback is other than not wanting to pay attorney fees.