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16 November 2024 | 5 replies
A good way to avoid this in this future is to use a vendor worksheet/package that request the pertinent contact information along with a document request for the filed out W-9, copy of business license, Worker comp and liability insurance certificates.
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19 November 2024 | 3 replies
Read our copy & paste advice below on better screening for a 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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23 November 2024 | 38 replies
Here's some other copy & paste advice you might find useful:---------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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16 November 2024 | 32 replies
No copy and paste nonsense but I hope that's not what you're referring to as a "welcome troll."
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15 November 2024 | 10 replies
Multiple tenants cannot pay, tons of bugs on the backend, User Interface doesn't load 30% of the time, the support team is based in the Philippines and they have no idea what they are doing just copying and pasting scripts.
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13 November 2024 | 9 replies
As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.
15 November 2024 | 14 replies
For books I would recommend theseSee if you can get a copy of The Millionnaire Real Estate Investor by Keller.The Slight Edge and Atomic Habits too.Thank you and I will add those to my list, atomic habits is coming up soon after a few others in line.
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12 November 2024 | 9 replies
@Ben Azubuike it's technically too late to add anything else if you've already signed a purchase contract.You can try to negotiate with the seller for review of:LeaseRent LedgerTenant approval criteriaAt closing you also want acceptable copies of tenant's: DL, SSN, paystub, bank statement, phone & email.
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13 November 2024 | 9 replies
With this I will have an additional 8 units bringing in $20k+ in after expenses revenue. same response in every bp forum, copy paste. real?
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12 November 2024 | 13 replies
@Joseph A. may I also have a copy of your Google form?