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15 January 2025 | 15 replies
Quote from @Joel Oh: Your business must make money day 1.It is so much more difficult to fix the model that is not making money than starting a new business that makes money day 1.
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31 January 2025 | 2 replies
Thankfully, we caught it during the plan review stage, and with a stamped structural design, they got the kitchen of their dreams—without jeopardizing safety or facing surprise delays.Here’s what to think about when renovating:Structural Changes: Even moving a wall can have ripple effects on the stability of your home.HVAC Systems: New layouts might need adjusted airflow or ductwork.Plumbing and Electrical: Moving sinks, showers, or outlets requires careful rerouting to comply with building codes.Before starting demolition or submitting permits, have your plans reviewed by a licensed engineer or architect to avoid costly surprises.
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3 February 2025 | 3 replies
I always a little under my target amount ( a month interest and half the cost of the attorney) so they can negotiate.
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29 January 2025 | 18 replies
I've been toying with the idea of adding an ISA to my sales business.
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30 January 2025 | 5 replies
You have every right to be outraged at the offending party and that's the tenant.Stay focused on what matters and that is getting back in business.
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19 January 2025 | 18 replies
It's been so bad here, that I bought an STR in Indiana with another business partner in 2024 because there are minimal opportunities here - unless you have the ability and budget to extensively source off market properties here.
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29 January 2025 | 3 replies
It is important to remember you own real estate in the Poconos and you are choosing to operate a STR business.
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30 January 2025 | 1 reply
Renovations can cost more than you expect, add 10% to your overall number.
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29 January 2025 | 12 replies
There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.
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26 January 2025 | 3 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.