Eli Jerman
Taxes for 2024 - First rental property purchases in August 2024
22 January 2025 | 2 replies
Not knowing your situation, you may or may not benefit from a cost segregation study.
Najeh Davenport
Need Advice on Appraisal Issues and Refinancing Options
15 January 2025 | 12 replies
Weeks later, it was communicated to us that the underwriter wouldn’t accept the ones signed by only one of us – legally binding for LLCs – and required we send amended copies of leases signed by both of us.
Dylan Watts
Single family rental unit with a pool
14 January 2025 | 7 replies
Most won't insure pools with diving boards or ones without a VGBA drain.2) Include the cost of a pool company to manage the pool in the rent.
Thu Pham
Purchasing an existing Airbnb with future bookings
14 January 2025 | 25 replies
Get a signed bill of sale including the furniture at closing for tax depreciation.Communication is key!
Jay Hinrichs
New laws in Oregon now define who can wholesale and what license is required
9 January 2025 | 46 replies
Right of recession:Buyer and Seller may rescind within 3 days of signing contract all all EM must be returned this is a blanket rescission.If Buyer or Seller never get the Disclosures and sign for them they can cancel right up until the day of closing with all EM returned. this should level the playing field keep bad actors at bey and give Buyers and Sellers some rights if they think they have been hood winked.
Matthew Steele
Lost lease, tenant issue
4 January 2025 | 11 replies
Spruce the place up and find a new, qualified renter at market rate.Don't forget to update your lease agreement.
Joseph Beilke
Costa Rica Info
11 January 2025 | 11 replies
Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.
Sunny Wu
Tenant wants to break lease 8 months early
6 January 2025 | 6 replies
It's up to you how far to take this though.When we're faced with this, we try to hold the tenants accountable, by pushing hard to do self-showings.- Who better to show the house and speak positively about than a current tenant?
Cristina Melo
Is Boots on the Ground by Brian Grimes a Legit Program
2 January 2025 | 13 replies
Quote from @Cristina Melo: Hi team, I just had a call with a sales agent to sign up for the Boots on the Ground program.
Jesse Rodriguez
Miami Short Term Rental
7 January 2025 | 0 replies
Also Seller hasn’t paid property taxes in 2 years which is a sign the property is in distress.