9 July 2024 | 1 reply
I would suggest you include repairs/maintenance, utilities, turnover, and vacancy in your monthly expense to truly estimate your cash flow per month per unit.

9 July 2024 | 8 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.

10 July 2024 | 11 replies
As I can't quite tell if the cleaner did not fully restock (I ask the cleaners to be generous with the restock), I'm leaning toward covering all the extra charges ($300 worth if I include the extra time our hot tub maintenance person had to put in to restore the tub/water) but leaving them a 3-star review, knowing they may push back in their comments.

10 July 2024 | 12 replies
Vincent, Yes - you can do this 100% most of the time when someone utilizes a hard money or bridge loan it’s because they intend to do some deferred maintenance or repairs on the property.

9 July 2024 | 2 replies
The maintenance and variable costs you referenced above would not fall under closing expenses in the above sentence.

8 July 2024 | 2 replies
Good Afternoon, Wondering if anyone could speak to maintenance costs on multi family properties in the great Portland market.

9 July 2024 | 9 replies
All you need is a single place to track tenant information, payment history, maintenance, and a few other things.
9 July 2024 | 22 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

10 July 2024 | 31 replies
Unfortunately, some tenants may exaggerate to try to speed up maintenance requests.

9 July 2024 | 9 replies
For example an uber driver will have things like fuel, vehicle maintenance etc which could be several thousand per year!