Michael Calvey
How Are Savvy STR Hosts Using Automation to Transform Their Businesses?
9 May 2024 | 19 replies
Hey everyone,I've been diving into the world of automation for my rental business, using ENZO to handle door lock codes and streamline communication with guests.
Dustin Poole
Looking to raise debt quickly (2 Weeks) for entitlement deal
7 May 2024 | 2 replies
Which syndication software is recommended to keep everything streamlined?
Jean Marx
Homes for Heroes Program
7 May 2024 | 2 replies
We're primarily curious as to whether or not you saw your lead number increase after actively marketing yourself as being associated with the program, if the client-side process is streamline when receiving their rebate, and if there are any other headaches we may not be considering?
Collin Hays
Smokies State of the Union
8 May 2024 | 33 replies
On the investment side, my goal is to identify and exploit new markets; on the management side, I aim to streamline my systems, and grow a management portfolio of select clients.Some of my key learnings. 1) Development is brutal and always costs way more than you think.
Shannon Garst
Need advise on setting up an LLC
7 May 2024 | 13 replies
Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.
Henry Hsieh
Out of state investing
7 May 2024 | 19 replies
Additionally, explore technology tools that streamline remote property management tasks, such as online rent collection platforms and smart home systems for monitoring.
Edwin Watson
Latest Property Management Software?
6 May 2024 | 8 replies
Don't forget to consider API integrations, as many vendors offer solutions that can help streamline your operations.
Matt Randall
Question about investing with a DSCR Loan
6 May 2024 | 9 replies
As a DSCR lender, I have originated ~200 DSCR loans so far so my answer will hopefully be helpful.In my opinion, the pros of DSCR loans far outweigh the cons, which is why DSCR loans are now the go-to form of financing for rental property investors.Pro Number 1: Streamlined UnderwritingDSCR loans have a shorter and less demanding processing checklist than bank loans and conventional loans.
Sara Abernethy
Reservation management software recommendations
6 May 2024 | 11 replies
Has anyone tried Lodgify, OwnerRez, Kigo, Ciirus, Streamline, Guesty, FutureStay, Lodgix, MyVR, RNS, HostAway, VReasy, Bookerville, VRscheduler, RDPWin, YourPorterApp, PriceLabs, EasyInnkeeping, Beyond Pricing, OneRooftop, Barefoot Agent, 365 Villas, the list goes on and on....?
Jonathan Julian
New software startup for contractors in CA
4 May 2024 | 0 replies
We have expertise in real estate, business process streamlining, and project management methodologies.