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24 September 2024 | 17 replies
Depending on the size of your portfolio, I suggest considering either "PROPERTYWARE" or "INNAGO":Propertyware is ideal for larger portfolios, offering customizable and automated reporting features.Innago has been very effective for me, enabling property marketing, conducting screenings, and managing rent and maintenance requests.
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27 September 2024 | 40 replies
The appraisal was conducted a couple of weeks before the most recent Fed's rate cut.
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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.
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26 September 2024 | 17 replies
Conduct tenant interviews or verify payment history to confirm rental income.For larger multifamily deals, work with a commercial real estate broker who specializes in multifamily properties.
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24 September 2024 | 11 replies
We've had bookkeeping clients with complicated structures that apparently protected them to the maximum degree but they didn't abide by the structure when conducting transactions in their business daily (lots of unintentional commingling).
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22 September 2024 | 20 replies
If the disrepair has been caused by the willful, malicious, or irresponsible conduct of the Tenant or a person under the direction or control of the Tenant, then the cost of repairs will be charged to the Tenant; and3.
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21 September 2024 | 14 replies
Always check the bio and credentials of the person conducting your Cost Segregation study.
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21 September 2024 | 19 replies
Such acts may be seen by the courts as bordering on intentional conduct, depending on the level of recklessness involved.What might be some examples of gross negligence on your property?
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20 September 2024 | 2 replies
But it really gets serious with how you handle showings, your application, how you conduct tenant screening, credit / background checks and your communication style throughout all of this.
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24 September 2024 | 49 replies
I also think it would be acceptable to ask when their award review is to be conducted, in case they lose the benefit during your lease.