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8 September 2024 | 0 replies
Promote Open Communication Create a Safe Space: Great leaders encourage open dialogue, where team members feel comfortable sharing ideas, concerns, and feedback without fear of judgment.
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10 September 2024 | 1 reply
Is there any websites or platforms that I can add to my knowledge that help with this diligence at fair/free cost?
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11 September 2024 | 6 replies
It was priced at $105K.... in fair/poor condition... it was still an amazing deal.
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9 September 2024 | 5 replies
He took depreciation on the prop, claimed the kids I’ve had primary custody of, and likely pocketed the returns.I am in the process of trying to engage a communicative/experienced accountant to assist in cleaning this mess up asap and fortunately our amazing bookkeeper of approx 8 years is very knowledgeable and responsive.
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9 September 2024 | 12 replies
Hi everyoneWow, it's been over a decade since I was on BP, nice to be back.My business partner and I have a fairly large portfolio of SFH's that we purchased as rehab projects using hard money.
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10 September 2024 | 1 reply
Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?
9 September 2024 | 18 replies
It creates a whole lot of uneccessary communication between us and our tenants when that happens.
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10 September 2024 | 18 replies
Fees are generally higher on small loans, but that seems pretty fair
10 September 2024 | 7 replies
I’m renting the property for fair market value.
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11 September 2024 | 31 replies
Before filing such a complaint with DHCR for breach of the warranty, the tenant must communicate in writing with the landlord about the problem.