
11 June 2020 | 1 reply
Does anyone have a recommendation for an app or website to find owners of vacant property.

22 April 2020 | 2 replies
We should instead work together to build a solution that ensures the moral support needed to get to a better place in life.I think the way the whole organization is structured will also provide another sense of accountability towards each other.Create a “Flip to Own” plan that lets future tenants be more involved with the initial renovation between occupants.Create a transparent “Monthly Operation Payment” that includes:An investment buy in (market value amortized over 30 years @ current market rate + .3%).Taxes & insurance (will also need renters insurance).Utilities (goal is to have a history of avgs, but will be paid as billed).Any cost associated with labor support for “Property Stewardship Guide” (basic cleaning and lawn care).Repairs and Maintenance budget (.1% market value, any expense related to maintaining current market value/ rent ready condition).Capital Expenditures- Major repair budget (.1% market value, any expense related to increasing market value and capital expenditures).Good neighbor assistance dues (.1% market value, covers accounting costs and assistance access).Create an app that makes monthly property management an easy habit.Pull information from Property Stewardship GuideIt keeps track of all the costs that determine the monthly payment, including utilities.It has a checklist of that months maintenance tasks, based on the standards of the GNA, that ensures the most effective life of the property.Have a portal to submit rent payments, using paypal or similar services.Build in an option to apply employee wages from the GNA as rent payments.Have a profile page with all the important dates and documents.Leverage these managing residents to build a coalition of labor support for the rest of the properties under the GNA umbrella.If they are all employees of the GNA non profit, then we can distribute benefits including healthcare, retirement savings, etc.Create a rolling pay scale:Offer work in exchange for equity ownership in other projects.When the current managing resident is ready to move, they can either cash out remaining repair budgets and equity, or leave their equity in and share the profits with GNA equal to their equity share.The managing resident will partner in the process of getting the house back to full market standards.Use the stockpiled repair budgets to fix their respective categories.Use built up equity if repair budgets don’t cover that cost.The remaining repair budgets will be applied as a direct principal payment.If the managing resident wants to cash out, then the GNA will buy back the property at the current market price.Both parties will pay their traditional closing costs if applicable.If the managing resident wants to remain an equity partner, then the title is changed to reflect that business relationship, and the managing resident receives monthly payments equal to their share of rental profits or interest payments of the next resident.Previous managing residents must create and manage their own LLC.If the previous resident has more than 50% ownership in the property, then they are in charge of managing the property.The monthly payment for the previous residents equity will be equal to their percentage of ownership times either the interest earned from the next resident’s purchase, or from the profits if it is run as a traditional rental.
11 May 2020 | 8 replies
I know there are several apps that can manage rentals (including rent collection, expenses, etc).

11 May 2020 | 19 replies
$2300-2400/unit is very strong rental income if they are 2 bedroom units so you would have to make sure your units are competing with the newer luxury 2 bed rentals on the near NW side of Chicago that are going for $2500-3000/mo that come with parking and pool :) I like using the site/app called HomeSnap for mapping out rental comps.

28 April 2020 | 4 replies
Hi I'm new to the BP app, I've been listening to the podcasts and studying real estate for almost 1 year and want to take the next step.

28 April 2020 | 5 replies
You should upgrade your properties to be monitored remotely with software, apps, wifi, thermostats, locks and cameras.

30 April 2020 | 66 replies
@Jay HinrichsThe BP Vacation Rental App.

30 April 2020 | 5 replies
You might be the GUARANTOR of the loan personally, which MIGHT mean this is the kind of property the heart of the question on the loan app is searching for.- Should you disclose it -- I'd say this is the real crux of the issue.

29 April 2020 | 11 replies
These smart TVs could come pre-programed with a certain limited TV set (like having the Amazon Prime app on a Roku enabled smart TV).

30 April 2020 | 18 replies
There's an app called Meetup that I like to use for looking for new networking groups.