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10 July 2024 | 6 replies
The way we look at it however is this sort of situation would be OK - but its a one time referral fee - any sort of arrangement with a long-term referral fee / borrower protection is reserved for true professional mortgage brokers - who like @Chris Seveney mentioned, would be doing more legwork on the deal vs. a simple and clean referral handoffvia CFPB on referral fees for business-purpose hard money loans:§ 1024.5 Coverage of RESPA.THIS VERSION IS THE CURRENT REGULATIONView all versions of this regulationSearch this regulationRegulation X(a) Applicability.
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11 July 2024 | 15 replies
I've been sorting out 24-1098 with existing leases at my job, where it's created some difficult knots to untangle with the timing of affordable housing tenant recertifications and the offer/notice timelines.But that aside, the law just imposes more formality on lease enforcement, whether or not it comes to a forcible eviction.
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10 July 2024 | 11 replies
Good quality detergents are almost specifically designed for those sorts of stains.
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10 July 2024 | 24 replies
I've done some research, listened to hundreds podcasts and watched hundreds youtube videos.im trying to evaluate which is a good market (location) to invest.I'm interested in fix and flips or BRRRs. if you're not interested in partnership but are familiar with these cities, then you have valuable information to guide me in selecting for example areas to avoid when purchasing investment property.
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12 July 2024 | 281 replies
TENANT: Oh, I wanted to make it a 2-bedroom apartment.ME: --Biggest facepalm ever-- You need to contact us before you do any sort of modifications to your apartment.TENANT: Oh, I didn't know that.ME: My manager will contact you on Monday.Needless to say, she probably won't be staying very long...
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9 July 2024 | 10 replies
Here's how to get started and advice on each area:Section 8 Rentals:Education: Learn about the Section 8 program, including eligibility requirements and benefits for landlords.Networking: Connect with local landlords who have experience with Section 8 rentals for practical advice and insights.Property Selection: Look for properties in Raleigh, NC, and surrounding areas that meet Section 8 housing standards and have potential for rental income.BRRR Method (Buy, Rehab, Rent, Refinance):Research: Study the BRRR method to understand how to find undervalued properties, finance renovations, and refinance to pull out equity.Partnerships: Consider partnering with contractors, lenders, and real estate agents experienced in BRRR to streamline the process.Market Analysis: Analyze local market conditions to identify neighborhoods with potential for property value appreciation and rental demand.Airbnb Properties:Regulations: Familiarize yourself with local regulations and zoning laws governing short-term rentals in Raleigh, NC.Property Preparation: Prepare properties to meet Airbnb standards, including furnishing, amenities, and guest experience.Marketing: Develop a marketing strategy to attract Airbnb guests, leveraging platforms like Airbnb and optimizing property listings.Overall Strategy:Continuous Learning: Stay updated with industry trends, attend local real estate meetups, and consider joining real estate investor groups.Financial Management: Manage your LLC, Opal Capital Holdings, effectively to track expenses, income, and tax obligations.Long-Term Goals: Keep your multifamily apartment goal in mind, and progressively scale your real estate portfolio based on experience and market opportunities.If you would like some help getting started, or just want to discuss please feel free to reach out to me directly.
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9 July 2024 | 8 replies
To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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10 July 2024 | 21 replies
The same with North Conway, I think they have sorted that out, but the fact that they were considering it was a little scary.
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12 July 2024 | 34 replies
If an applicant is difficult during the application process or has a lot of questions, they are likely to be just as challenging as a tenant.Of course, there are always exceptions, but I’m speaking from 17 years of property management experience.I hope you get this sorted out soon!
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9 July 2024 | 8 replies
And also engaged with institutional investors on a regular basis.I'm highly entrepreneurial and figured out that what I really want to do in my professional career is US multifamily investments.What I've done so far is selecting the markets I'm interested in (in TX), building a comprehensive financial model to analyze deals, and creating a very detailed due diligence list.