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7 January 2025 | 9 replies
-----------------------------------------------------------------------------------------------------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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5 January 2025 | 7 replies
I would count on having at least half market rate tenants, in the event Section 8 rents are higher than market, which they are in our market (granted you will need to subtract the utilities from the rent).
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1 January 2025 | 4 replies
The value of the property and how it’s distributed relative to ownership stakes will determine whether it counts as a taxable event, I believe(I’m not a CPA or attorney).
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1 January 2025 | 7 replies
Buyers could look at a DSCR loan which does take into account the revenue from the rent but it doesn't count towards the value of the property.Now, buyers could look at a business loan of some kind but I am not sure they would qualify if it is only one property and even then, the value is mostly in the property and not the possible revenue.
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7 January 2025 | 5 replies
Count me in—would love to link up, share ideas, and see how we can tackle this together.
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5 January 2025 | 17 replies
Your lender definitely should be able to count the 75%- I'm in Arlington and would be happy to connect you with my awesome lender who has been able to do all kinds of creative options to get to yes for me.
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6 January 2025 | 13 replies
Compare other rentals with a similar size, location and bedroom count to get an estimate of what the rent would be while you're living there.
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14 January 2025 | 25 replies
These rentals wouldn't count against me (e.g. if they had bad reviews, they wouldn't be on my listing since the old property management company just paid me out).This gave me the opportunity to get the tail end of the high season and get some money in the door.
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2 January 2025 | 9 replies
Hey @Connor O'Brien - There is a list that CHA releases each year that states the maximum rent they will pay in certain chicago areas based on bed and bath counts.
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8 January 2025 | 14 replies
Basically, they name everyone because they’re hoping and counting on the fact that people set up their own LLCs and didn’t adhere to basic entity maintenance and kept things separate (like bookkeeping and separate bank accounts).