
7 June 2024 | 15 replies
A credible lender will be happy to provide them.Experience: Check how long the lender has been in business and their experience with similar projects.Red Flags:Upfront Fees: Be cautious of lenders asking for substantial upfront fees before any services are rendered.Lack of Transparency: If a lender is not transparent about terms, fees, or the loan process, it’s a red flag.Unrealistic Promises: Beware of lenders promising guaranteed approvals without a proper assessment or offering terms that seem too good to be true.Poor Communication: Difficulty in reaching the lender or getting clear answers can indicate potential issues down the line.By conducting thorough research and due diligence, you can confidently choose a reputable hard money lender that meets your needs.

6 June 2024 | 6 replies
Take a look at your agreement with the listing agent so see if there is a penalty, if not request terminating your agreement immediately or hiring a local PM to represent you to communicate directly with the listing agent to end the agreement.

6 June 2024 | 1 reply
I've personally communicated with the inspectors, and they are aware of how the tenant is trying to manipulate the situation.

5 June 2024 | 3 replies
Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?

6 June 2024 | 2 replies
I would also look into implementing a PMS so that you can effectively manage all of your calendar’s & communication with guests.

8 June 2024 | 37 replies
You have to actually go out there and find real deals, do the work to force equity, and only then do you get a bit of cash flow that eventually becomes significant years later.But that's not a get-rich-quick strategy so most folks won't do it.

6 June 2024 | 6 replies
A wise investor will not try to get rich quick with shortcuts.

7 June 2024 | 8 replies
There is nothing illegal about direct communication between buyers and sellers.

6 June 2024 | 4 replies
I also recommend you stop chasing the "get rich quick" schemes you'll find on YouTube or in books written within the last five years.