Eric Justice
Buying property-All Cash
5 June 2024 | 116 replies
But the majority of people purchase "average" real estate properties and does not reflect the an increase in HOA, insurance, gas, electric, taxes, management and maintenance.
Scott Trench
Good Fees Vs Bad Fees For Property Managers
5 June 2024 | 10 replies
It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions.
Laura Sanchez
Gas Station and Renting Units
31 May 2024 | 1 reply
I rent a few condos inside an association, these are located about 100ft-250ft from a gas station.
Bobby Valcin
New Appliances vs. Used Appliances In Rentals
4 June 2024 | 23 replies
I now let tenants know they can provide their own gas stove, or I'll pull one from 'storage' and they take what they get.
Vladimir Kotomin
Looking to execute my first 1031 exchange
1 June 2024 | 10 replies
Oil and gas royalties - a little know acceptable 1031 replacement opportunity.
Prabhat Rao
New construction home in an area going through gentrification.
31 May 2024 | 2 replies
However the intersection is known to be a high crime area with motels and gas station.
David Brain
Hybrid Car's
1 June 2024 | 10 replies
Now when gas is $5, we might be able understand what David means.
Pratik Kochar
Electrical Upgrade from 100 amps to 150/200 amps
31 May 2024 | 6 replies
Ft ranch home with new appliances ( Refrigerator, dishwasher, stove(electric or gas), washer/dryer, microwave etc and contemplating whether it requires and electrical upgrade from 100 amps to 150/200 amps.Currently the HVAC system installed for central heating/cooling is 15 amps)and there is gas water heater.Do you anyone know if this needs to a mandatory upgrade or any recommendations around the same and what it can cost to upgrade electric panel to 150 amps/200 amps?
Edward Schenkel
Ask An Attorney Anything About Real Estate Law
9 June 2024 | 223 replies
The gas and electric are on, but no water.