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12 January 2025 | 23 replies
Here's an example why:- One of our people made a mistake last year, and entered an expense of $1500 instead of $150 - they accidently typed an extra "0". - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio.
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7 January 2025 | 7 replies
Try to arrange for an “open house” day for buyers to walk through with contractors and eliminate inspection problems/delays.
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7 January 2025 | 5 replies
I actually have a webinar i put on a couple of years ago walking through all the pitfalls and mistakes I made doing 482 BRRRs between 2009-2018 in Chicago.
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12 January 2025 | 28 replies
You better check out your legal situation, rights and obligations before you make a very expensive mistake!
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18 January 2025 | 19 replies
I think you are making a mistake in switching over to Section 8 if you are successful with what you have/had now.
4 January 2025 | 5 replies
@Nathan NoorlunRecommend 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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27 January 2025 | 48 replies
And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.
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1 January 2025 | 14 replies
Eliminate debt, establish a budget, and save.
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6 January 2025 | 7 replies
Their goal is to eliminated group homes, half way houses etc, even STR, so check out the local zoning as well.