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19 June 2024 | 18 replies
Hey mate,Thick skin is needed on this forum and in business in general 🤷♂️I just posted something similar on another thread and the best advice I can give is spending enough time finding the right people on the ground before looking at the prospect of a market or a deal.Especially when doing BRRR out of state which is a very tough gig IMO.You can find the best market, with the best growth potential, find the best deal with the best cashflow but if your realtor isn't genuine, your property manager is incompetent and your contractor is a cheat.You will loose money.Also, underestimate your income and overestimate your expenses on every deal and business opportunity.If you think it won't happen to you, I can tell you right now that it unfortunately will...I've completed hundreds of flips and rarely come in at budget from a rehab standpoint.So keep that in mind.Appraisers are a joke and easily manipulated.They follow weird data and many want to cap you intentionally (No idea why...) on the ARV.They play it safe and can see how much you paid and what you spent on rehab so they will cap the value and come in under fair value on many appraisals.I stopped dealing with selling to investors looking to finance many moons ago as it wasn't efficient from a business perspective and I'm not in the business of using "in-house" lenders and manipulating appraisals like many others do.
14 June 2024 | 3 replies
Hello:Could someone please recommend rental management portals that you have used or use to securely store your tenants sensitive documents like passport?
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17 June 2024 | 6 replies
@James Daley You'll need some 'skin in the game' on a deal like this.
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15 June 2024 | 7 replies
If you get a no on any of these questions, you are probably not dealing with a true turn key... and they will not have enough skin in the game to do a good job for you.
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17 June 2024 | 26 replies
That local partner can then become our eyes and ears who has skin in the game with us.
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18 June 2024 | 121 replies
Yes, I found this article on how connectedinvestors is HYPER sensitive when it comes to blocking and banning members, for no apparent reason: http://www.onmyminddaily.com/c...
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20 June 2024 | 245 replies
Yes that makes sense, I have heard that the silicon valley RE market is very sensitive to the big tech companies.
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14 June 2024 | 2 replies
We always do sensitivity analysis. 90% occupancy planned.
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13 June 2024 | 4 replies
This means your funds and sensitive financial information may not have the same level of safeguarding.2.
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13 June 2024 | 4 replies
She is highly noise sensitive and constantly complained that I wasn't holding her neighbors to the "quiet use" portion of the lease.