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22 May 2024 | 30 replies
Renos (not repairs) are clearly above and beyond and not regular PM duties.
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21 May 2024 | 48 replies
While there are project housing apartments that are not in good areas, sec 8 tenants were able to rent anywhere and with our rapid expanding and relatively cheap housing; they were renting in regular middle of the road blue collar neighborhoods.
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20 May 2024 | 16 replies
You'll find more people on regular long-term rental sites than you would on anything designed for MTR, which is not even a term people are familiar with.If you are renting longer than 30 days, you should screen, collect a security deposit, use a written lease agreement, and follow the landlord-tenant laws for long-term rentals.
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20 May 2024 | 14 replies
In this scenario, you are lending money to yourself as an individual, it allows you to make regular mortgage payments to yourself rather than paying the P+I to a bank or other lender.The first step is to qualify for a Non-Arm’s Length Mortgage with a financial institution.
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19 May 2024 | 39 replies
Is there a chatroom that hosts discussions with a good number of people on a regular basis??
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18 May 2024 | 4 replies
For illustration purposes if a tenant or passerby trips and becomes hurt because of a premises liability event, if you discriminate against a tenant or buyer, fail to pay your contractor for work that was performed or any of the many fact patterns that could lead to claim exposure presents itself do you really believe your identity is going to stop a plaintiffs attorney from filing a claim, lien etc?
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19 May 2024 | 9 replies
@Ryan Sweeney @Ron AngelThere are providers of both checkbook IRAs and Solo 401k plans that regularly post to these forums.
19 May 2024 | 8 replies
The money needed for these properties would regularly require a greater than 8% return in other investments to receive the same cash flow if paid off.
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21 May 2024 | 44 replies
I am in Alaska and since covid my regular lender quit lending in Alaska, had 3 deals with them previously.I found a broker which hooked me up with Constructive.
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18 May 2024 | 2 replies
Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.