William K.
Partition part of land for landlord only use that a rental house is on.
26 September 2024 | 2 replies
Yes, you just need to write it into the lease or add an addendum stating that the driveway is not part of the lease and the owner retains use at all times.
Evan T. Ong
Worries I have (haven't started investing yet)
25 September 2024 | 14 replies
.- I can't retain all the information from the books.
Devin Bost
Do I need a property manager just to manage bookings?
27 September 2024 | 9 replies
A fixed-rate manager might let you retain control over the booking process while saving on commissions.If direct bookings are a primary goal, having someone motivated to push these (beyond the traditional channels) is crucial.
Vi Huang
Tenant Keeps Making Maintenance Requests
27 September 2024 | 11 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.
Matt Mastrelli
Own my first deal (NJ), trying to decide to flip or hold: numbers included
29 September 2024 | 12 replies
The house was a hoarder house and needed a large amount of work (Roof including plywood, facia boards, soffit, gutters, underground plumbing, outdoor deck, all windows, doors, flooring, bathrooms, half the sheetrock, retaining walls, etc.)
Floris V.
Midterm contract with construction company
24 September 2024 | 4 replies
The insurance company wants to fulfill its obligations to the insured, and the construction company wants to keeps its employees happy, working and retained while they travel to a job site.
Antonio Harmon
How to Develop the Best Strategy for Real Estate Investing?
23 September 2024 | 6 replies
Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.
Chara Hornbacher
Balloon balance due what's my best option?
23 September 2024 | 5 replies
Do you want to bring in an equity partner to fund the house build to rent out and you retain some equity?
Dale Adams
Real Estate Development - Best Order to Start Get Things Up & Running
23 September 2024 | 2 replies
Will the lot require a retaining wall?
Alex Boulger
Selling Rental with 2 Out of 5 Year Rule
25 September 2024 | 14 replies
While not in TN specifically, I have assisted clients do as you have described: live in a property as a principal residence for 2 years, rent it out for 3 years, then sell.Based on the situation described, you would appear to be eligible for the MFJ joint exclusion on principle residence on your 90% share.However, in order to retain that ability, the house will very likely need to be sold (ie, sale closed, not just under contract) by the end of this month.