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23 December 2024 | 9 replies
A strong partnership benefits both parties.Happy vendors are more likely to prioritize your jobs and provide high-quality service, benefiting both tenants and owners.Balancing Stakeholder NeedsBalancing these relationships requires a strategic approach:1.Standardized Processes: Implement systems that ensure consistency and efficiency in addressing maintenance requests, approvals, and payments.2.Transparency: Use technology, like owner and tenant portals, to provide real-time updates and visibility into ongoing issues.3.Regular Communication: Maintain open lines of communication with all stakeholders.
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26 December 2024 | 14 replies
Most standard MLS contracts now include a box check for 1031 exchanges.
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27 December 2024 | 8 replies
I mean can you consistently provide an industry standard finished product similat to what the licensed trades would provice)
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14 January 2025 | 28 replies
You fail to the systems in place, keep strong standards and the failure rate is light.
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23 December 2024 | 0 replies
Standard offer process.How did you finance this deal?
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15 January 2025 | 24 replies
@Dave AllenRecommend 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 property in Class D area to Class A standards, what quality of tenant will you get?
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25 January 2025 | 26 replies
(This is in addition to all the standard stuff you will read and/or that your broker is telling you. 80% of agents fail in their first two years, I'm sure there is a correlation between the other 20% & 70 hour work weeks early on.)
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1 January 2025 | 14 replies
@Jeff SkinnerRecommend 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 property in Class D area to Class A standards, what quality of tenant will you get?
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26 December 2024 | 18 replies
Unfortunately - there are a couple of issues here that likely make this hard to finance:-"Cabin style" dwellings typically are difficult to finance as the secondary capital markets treats these differently than standard single family homes as the buyer pool for a "cabin" dwelling is less than that of a standard home.- Yurts: Lenders typically have difficulty financing Yurts as they are moveable collateral.
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31 December 2024 | 66 replies
A detailed system for each project level and payment plan for work that gets done to proper standards should show the contractor that you mean business.I believe I'd follow the system described by one of the contributors to this discussion, Tom Shallcross a few days ago.