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2 January 2025 | 8 replies
Reliable property management is everything, especially as out-of-state investors.
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31 December 2024 | 18 replies
We seem to have a great property manager at this point.
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4 January 2025 | 4 replies
I understand I cannot legally require them to respond, unless the notice specifically requires it, like for instance, a notice of entry, but it's making it difficult to manage the property, and I'm not sure how to proceed.
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19 December 2024 | 8 replies
Check out PMW, Property Manager Websites
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5 January 2025 | 13 replies
@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.
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31 December 2024 | 8 replies
Quote from @Lexi Lehman: Quote from @Derrick Lewis: I use TurboTenant for their other features (and tenants submit maintenance requests there), but haven't seen anything about a partnership with Lula until now.Lula doesn't cost anything for the property manager as a subscription normally, you just pay on a per-job basis.
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1 January 2025 | 0 replies
I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes.
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30 December 2024 | 24 replies
They manage a ton rentals.
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1 January 2025 | 36 replies
Needs an owner-operator to manage.
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30 December 2024 | 20 replies
Another great property management starter book was Landlording on Autopilot - Mike Butler.