Charlene Kingsnorth
Private Lender Loan Servicing Software Fees
5 January 2025 | 14 replies
My question is: On new loans-how can we collect from each investor a small fee for our monthly services.
Joel Oh
One platform strategy
2 January 2025 | 30 replies
The screening process plays a big role in the odds of collection.
Fareen E.
Start lease on closing date or the day after?
10 January 2025 | 11 replies
Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.
La'Terrius Campbell
Wholesaling Text Blasting
9 January 2025 | 9 replies
They work on contingency, so it costs the plaintiff nothing unless the attorney collects from you.Take a look at: https://www.fcc.gov/document/f...
Elvon Bowman
New Investor looking to scale immediately
2 January 2025 | 7 replies
Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.
Sunny Wu
Tenant wants to break lease 8 months early
6 January 2025 | 6 replies
We try to set up at least 3 timeslots each week when we can schedule all the showings to minimize the tenant interuptions.If they won't cooperate or cancel too many scheduled showings, we warn them we will pursue collections to the fullest extent of the law.
Michael Beirne
Section 8 BRRRR in Baltimore
11 January 2025 | 13 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
Reyna Ayala
How many bank checking /saving accounts are needed as a first time landlord
8 January 2025 | 10 replies
If you have more than one LLC, each LLC should have its own set of accounts.Checking: Collect all income here, then use it to pay bills, the mortgage, or maintenance.
Elizabeth King
Does my property have to be in LLC to benefit from real estate tax advantages?
2 January 2025 | 10 replies
I created an LLC to collect rent and manage any expenses related to the property.
Michael Darten
Property management managing multiple properties
4 January 2025 | 18 replies
@Michael Darten Most property management agreements have the monthly PM fees based upon a percentage of rents collected.