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8 August 2024 | 2 replies
From a bookkeeping standpoint, this makes everything a lot easier as long as each financial account is used the way it is supposed to be used (no commingling).I would just caution you to think about the functionality of that structure within your day-to-day business operations before pulling the trigger on it.Make sure you're keeping things as simple and efficient as possible.
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10 August 2024 | 8 replies
Here is what I proposed:Setup fees : Administration Setup:One Time Fee: $400Guidebook: Using professional photos give the guests a professional tour of the house and how the home works (Wifi passwords // How to use grill // How to use propane fireplace // Hot tub instructions // Sauna instructions //Check in and check out instructions //where extras may be storedOTA (Online Travel Agency) setups: taking professional photos and actively updating your listing on popular platforms;PMS (Property Management System) Setup Smart Pricing Set upWebsite integrationOther (furniture arrangement / design / décor shopping and set up) $50 per hour· Placement fees · Marketing Cost: Variable depending on needs/wants for marketingFacebook AdsGoogle Ads Cleaners: Set up procedures/take pics of expectations· Management fee—30%Guest communicationCleaner communicationSetting Rental rateDealing with small maintenance issuesBooking CoordinationSmart Lock integrationKeeping supplies stocked (TP, paper towel, all cleaning products, coffee, filters, creamer, sugars, teas,)(Receipts would be submitted on a monthly basis for either reimbursement or book keeping purposes)Encouraging guests to leave good reviews by periodically checking in, providing a review template, and ensuring guests receive the amenities they are looking forContinued marketingMajor Maintenance fees—OwnerCleaning and laundry services fees: Cleaning fee to the guest depending on how cleaner wants to charge
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9 August 2024 | 4 replies
Why buy now, when we're virtually guaranteed a lower rate in a short time period?
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9 August 2024 | 0 replies
Also extend balloon or amort periods 5 to 7 years.
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8 August 2024 | 5 replies
If you get enough loan volume to one lender, then you can start asking for a more efficient relationship.
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9 August 2024 | 4 replies
I get my increase sooner and lock them in for a fresh 12 month period.
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8 August 2024 | 6 replies
Plus, older properties in established neighborhoods often have more stable appreciation over time.On the other hand, the new development, though slightly more expensive, might offer modern amenities, energy efficiency, and potentially lower maintenance costs.
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7 August 2024 | 0 replies
New to real estate investing so any help/recommendations means more than you know :) Does anyone know what would be the easiest or most efficient way to go about getting a new quadplex built in the Greater Atlanta/surrounding area?
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8 August 2024 | 17 replies
You are likely out of your inspection period and the ways out for you are appraisal and financing contingencies.
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9 August 2024 | 13 replies
And you won't immediately give up 40% of your profit in taxes.Simply keep repeating this process with one addition - periodically (when you have a good reason) you will sell one of your rentals and using a 1031 exchange, purchase 1 or two new properties to again BRRRR.