Are you self managing those properties?

However, I don’t yet have the funds for a down payment on another house, and I’m trying to figure out the best option for where to live while I rent the apartment.Do you have any recommendations for managing this transition or tips on finding a temporary place to stay?

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

Hey Gabriella, as a property manager and aspiring agent you should have no problem finding a mentor.

I would be interested in connecting for the Washington team position for both purchasing agent and professional property management.

Do you work with a property manager or do you do everything yourself?

Logical Property Management are actually my property managers.

For FT property management, the rule of thumb is between 80 and 120 units (if they are doing everything).

There are a lot of deals he could do, but he wants to hit 80% occupancy from a Risk management standpoint before he takes on his next deal, plus get closer to retirement.

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.