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28 June 2024 | 5 replies
Blaming Loopnet for an allegedly bad property manager is like blaming Zillow for an allegedly bad realtor...I'm sure if Loopnet was stupid enough to give ransom money to BBB, BBB would take down the bad reviews and un-filter any good reviews (which is the entire business model of BBB).
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27 June 2024 | 10 replies
Would that be attributable toward the STR hours?
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27 June 2024 | 1 reply
Seems like a potential issue if I stop working with them in the future and lose all access to the listing completely.I currently manage an STR in my local market, but a property manager I spoke to insisted that they handle all the setup on the OTAs vs having the listing under my account and giving them cohost/PMS access.This is my first time dealing with a property manager so I was wondering what everyone's experience is like in this business relationship.Secondary question:As an experienced cohost, do you care if it's an old or brand-new listing?
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28 June 2024 | 6 replies
@Steven MooreI agree with the other posterIf you are low on funds and low credit - work on fixing that first as buying property and trying to manage even with an k site manager is another risk that you need to have funds for repairs etc.
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28 June 2024 | 15 replies
You can tweak the availability and minimum nights settings pretty easily too to adjust for who you're looking to market toAs for a property manager, I would check in local STR facebook groups to use current operator's experiences with certain companies as a way to vet them.
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26 June 2024 | 11 replies
Our current property manager is not cutting the mustard (not enforcing late fees, slow to fill vacancies, etc.) and I would very much like to replace her with someone who will approach our investments with a more business minded attitude.
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27 June 2024 | 26 replies
With the Boots on the Ground team (agent, contractor, property manager), I would add experienced local investors to this.
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25 June 2024 | 18 replies
However, my property manager is having the hardest time finding a qualified tenant.
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25 June 2024 | 6 replies
Hello, Manuel Llanas, your property has several positive attributes, such as a great location and a low mortgage rate.
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25 June 2024 | 2 replies
However, when you sell the individual condo units, capital gains tax will be triggered on the gains attributable to those sales.Allocation of Basis: The original purchase price and any improvements made should be allocated among the individual condo units to determine the basis for each unit.Gains Calculation: When selling a unit, the gain is calculated based on the difference between the allocated basis and the sale price of that unit.Partial 1031 Exchange: You may be able to use another 1031 exchange to defer gains on the sale of individual units if you reinvest the proceeds into other like-kind properties.