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19 February 2025 | 10 replies
As a co-host for short term rentals, you may not need a license as long as you're not crossing over into activities that could be considered brokerage activities like handling any contracts, collecting rents, doing any accounting, approving tenants, etc.
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16 February 2025 | 27 replies
I sent everything over promptly and got an email the same day saying that the wire was approved and sent.
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26 February 2025 | 6 replies
I'm looking for advice of finding a good GC (BP approved) or contracting out each trade separately myself.
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25 February 2025 | 5 replies
You may also want to consider hiring a land use attorney or consultant to help navigate any zoning changes or entitlements needed for your mobile home park.When sourcing land, focus on parcels that are already zoned for multi-family or manufactured housing, or at least close to it, to avoid lengthy approval processes.
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26 February 2025 | 1 reply
FHA 203(k) loans are a great way to get into a property, add value, and set yourself up for strong equity when you eventually rent it out.Biggest things to watch out for:1.Contractors & Timeline – The loan requires HUD-approved contractors, and the rehab process can take longer than expected.
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20 February 2025 | 4 replies
Are you pre-approved for a construction loan?
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23 February 2025 | 9 replies
Since you’re pre-approved, weigh the costs, risks, and rewards of each market before making a decision.
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26 February 2025 | 13 replies
Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.
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25 February 2025 | 5 replies
Never once have I been asked to approve a tenant
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22 February 2025 | 3 replies
Is this a red flag to banks for getting approved?