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18 January 2025 | 11 replies
Feel free to DM me if you'd like more insights on all this (we don't do biz in Alabama so got nothing to lose).Here's some other "copy & paste" advice on how to search for a better PMC:----------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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27 January 2025 | 6 replies
It’s better to spend a little now than risk costly mistakes later.
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5 February 2025 | 14 replies
Have proof on hand (easy enough to find) online of the missed tax payments and any documentation that supports that he specifically didn't pay his taxes.Probably a simply mistake on his part, but now if he wants to develop on it, he either has to land lease it from you or buy it back.I'm not sure how the whole tax deed thing works, so that would be something you have to figure out between the two of you.
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21 January 2025 | 40 replies
That alone was the biggest improvement for my business practices and allowed me to take all of my bookkeeping in-house and eliminate the expense I was shelling out for a bookkeeper.
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22 January 2025 | 22 replies
Holding the new property until passing offers a step-up in basis, eliminating deferred taxes for heirs.
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22 January 2025 | 56 replies
Much like by the end of this decade, I will take those same steps to become even less involved with work and have more times with my kids who will be really developing and that will be my focus.The difference once I made money, and was able to make it make money for me I de-risked by eliminating leverage.
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20 January 2025 | 6 replies
Just like professional athletes who still work with coaches to hone their skills, a real estate mentor or coach can provide you with valuable insights, shortcuts, and strategies that can help you avoid mistakes and fast-track your success.
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29 January 2025 | 10 replies
As a new investor, I made the common mistake of being too aggressive, starting with seven distressed units all at once.
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16 January 2025 | 9 replies
@Tannia CastroRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.