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29 June 2024 | 7 replies
We do have our account reconciliations audited by a 3rd party quarterly, which helps catch errors before they impact our clients.Highly recommend any owner dealing with a PMC discuss with their PMC and their tax professional, or an expert like @Sean O'Keefe, about how to improve processes and communications to make this process smoother:)
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26 June 2024 | 6 replies
The window must have a net clear openable area of 5.7 square feet (5.0 square feet if ground floor), a minimum openable height of 24 inches, a minimum openable width of 20 inches, and the bottom of the opening must be within 44 inches of the floor.Size: The room must be at least 70 square feet, and no less than 7 feet in any horizontal dimension.Lighting & Ventilation: A natural light source (window) of not less than 8% of the floor area and natural ventilation (openable window/door) of at least 4% of the floor area are required.Heating: The bedroom must have heating capable of maintaining a minimum room temperature of 68°F.Smoke Detector: A smoke detector is required in each sleeping room.While a closet is expected in most bedrooms, the International Residential Code does not actually require a bedroom to have a closet.
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30 June 2024 | 22 replies
We have seen an improvement in March in sales and slightly in inventory.
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29 June 2024 | 8 replies
These would also not take too much time except for my partner and I both still working full time jobs in addition to managing real estate so we are open to various ideas that might improve our efficiency.
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28 June 2024 | 4 replies
I then **Rehabbed** it, making necessary repairs and improvements to increase its value.
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28 June 2024 | 1 reply
I have been digging through the guidance and am wondering if anyone has ever taken advantage of the following clause regarding 203k improvement types from the HUD SFH Handbook 4000.1, pg 374:- "reconstructing a Structure that has been or will be demolished, provided the complete existing foundation system is not affected and will still be used;"- "repairing, reconstructing or elevating an existing foundation where the Structure will not be demolished;"Guidance link: https://www.hud.gov/sites/dfiles/OCHCO/documents/4000.1hsgh.pdfHas anyone ever built a new home on top of an existing foundation using a 203k loan?
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28 June 2024 | 0 replies
These updates modernized the property, improved its curb appeal, and significantly increased its market value.
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27 June 2024 | 0 replies
With these changes, the portfolio is now expected to be about -$2,300 / month cash flow.I am considering a few options and would love this communities opinions:Option 1) Sell property 1 to pay entire mortgage of property 5 (highest interest rate) -- Pro: Improves cash flow by ~$1,600 / month.
28 June 2024 | 10 replies
The area doesn’t start to improve until you reach the United Center.
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28 June 2024 | 7 replies
That has property tax consequences.The more improvements on the land (which includes fences) the more important a survey is.