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29 January 2025 | 25 replies
Things they did bad which I wish I had asked more information about:Never involved in the screening of tenantsThey recommended keys for cash by waiving the rent amount buy only collecting fees which they would get not meThe cost to evict is 750-950 yet other companies told me they will include eviction in the priceThe tenant didnt pay in full last month and I was the one calling out to them and asking questions then a few days later I get an email saying something happened with the tenant and they are investigating.You get passed from person to person every week or so.No one told me when the construction was complete and so the house was ready for a week and the post to zillow and other sites was not done.It took them another week to take pictures and then another week to upload it.I was paying 200 dollar a month electric bills while the house was vacant because they left the AC running in the empty property.
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29 January 2025 | 12 replies
Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?
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24 January 2025 | 3 replies
Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.
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17 January 2025 | 37 replies
No NON-QM broker or lender should be collecting upfront fees for processing.
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22 January 2025 | 0 replies
The interest rate and loan term remain unchanged.Fees: Most lenders charge a fee for recasting, typically ranging from $100 to $500.
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21 January 2025 | 5 replies
The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc.
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19 January 2025 | 6 replies
The meters are rented and the monthly fee ($7.50) can be charged to the tenant on their statement.
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15 January 2025 | 2 replies
I had to have an awkward conversation with my favorite realtor when their broker suggested everyone had to pay a $700 “document fee” on every sale.
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11 January 2025 | 9 replies
Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.
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17 January 2025 | 21 replies
Canton is not quite as bad, although they have increased annual fees and initial inspection requirements in the past few years that Akron never put in place.