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10 June 2024 | 7 replies
I am going for a house hack with Fannie & Freddie conventional , After my 4th offer was rejected going over listing I asked the listing agent for some additional info and they stated that for this property there were 42 showings within 4 days. 1 cash offer, 1 commercial, 15 conventional and one FHA with 9 waived inspections, 11 escalation clauses and 5 appraisal gaps.
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10 June 2024 | 3 replies
I recently joined the BP community and have already been shown a tremendous amount of support!
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8 June 2024 | 1 reply
These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.
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9 June 2024 | 35 replies
It's helped me tremendously... just the case studies you cover alone are helpful in the corporate work environment.
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8 June 2024 | 6 replies
Also, they have access to a tremendous amount of information and connections to those trades that we all need more access to. you may also ask where are the regulations stated in writing, then you will have the ability to answer further question you may have regarding these matters
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6 June 2024 | 13 replies
We tried this and it worked tremendously.
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7 June 2024 | 11 replies
Search Engine Optimization (SEO) is the key, and that will take a tremendous investment that likely will cost more than the reservations that you get.For an individual, self-managed property, you are pretty much wasting your time; the major channels are paying Google tens of $ millions per year to dominate the rankings.
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6 June 2024 | 5 replies
I have notice quite a tremendous amount of properties listed for rent on zillow and they have been sitting nearly a year .
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4 June 2024 | 0 replies
If more retailers vacate their space than those properties are at risk of losing tremendous value as it will be difficult to re-lease to a tenant that is not impacted by California's high costs to do business.