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28 May 2024 | 1 reply
I've heard Stessa and Buildium for the most part but find it's actually very difficult to use for the average small scale landlord (I have 7 doors)The cost of Buildium I think is way too high for the small scale self managed landlord like myself. 7 units comes to $55/monthAs for Stella, the UI isnt the greatest and probably tailored for more property management companies, and the accounting features are rather lacking for Canadian tax laws.
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28 May 2024 | 2 replies
Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.
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28 May 2024 | 0 replies
However the other side of that coin is often the curse of underperformance as I have found it difficult to find a career that doesn't bore me after a few years.
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28 May 2024 | 1 reply
Or if they want a high-interest rate, and your numbers will not work at that interest rate, or if they really want a crazy high price where it will be difficult to cash flow and refinance in the future.
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30 May 2024 | 33 replies
So, if this makes you nervous you may not be prepared for more difficult situations.
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27 May 2024 | 2 replies
I live in Las Vegas which is a mecca for tourism, but new STRs here are very difficult to secure.
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28 May 2024 | 4 replies
I imagine this will be a difficult connection to make.
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28 May 2024 | 7 replies
If you are too aggressive, tenants may retaliate, making your life difficult.
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28 May 2024 | 8 replies
It's not that difficult to navigate through based on my experiences with my clients, easy to use and setup.
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28 May 2024 | 5 replies
Vacant lots are going to be difficult to find in those areas.