Reyna Ayala
How many bank checking /saving accounts are needed as a first time landlord
8 January 2025 | 10 replies
If you hire a PM, your financial account structure can be simpler.If you plan to continue purchasing rentals, I like some key accounts at the "management" level (income, opex, tax, owncp, reserve) and only have 1 checking account per property to prevent having 100 accounts and unnecessary complexity.
Andy S.
Landlord as Additional Insured vs Additional Interest On Renter Insurance in New Jers
3 January 2025 | 3 replies
This can be costly for your property manager, and you may have to pay for their insurance policy, which can add unnecessary expenses to your budget.It strengthens your relationship with your property manager.Adding your property manager as an additional insured is a gesture of good faith that shows you are committed to protecting their interests.
Ajit Singh
New Member - Serious Investor - ISO of a Mentor
6 January 2025 | 5 replies
Learning is great and having guidance can expedite and often saves unnecessary heartache.
Alex Silang
Mass deportations: will it affect rental markets?
22 January 2025 | 61 replies
Pretty confident we slap tariffs on Europe to the tune of 25-30% immediately, and then threaten China/Mexico to impose by July or August if they don't revert or establish some policies to our (trade & immigration) benefit.This overnight belief that we'll kick out 20% of illegal immigrants and impose 30% tariffs globally with seizing Panama, Canada, and Greenland is just a farce.
Joe Sullivan
My Horrible Experience with Ron LeGrand's Financial Freedom
27 January 2025 | 21 replies
Thank you for saving me from some unnecessary headaches.On that note, can anyone recommend/endorse a reputable educator with experience in wholesaling?
Briley Roe
Dscr investment rates high
2 January 2025 | 12 replies
You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary.
Erica Dike
Design Dilemmas: What's your biggest struggle with designing your vacation rental?
24 January 2025 | 25 replies
I could have gotten to profitability in a fraction of the time without those unnecessary expenses.
Steven Catudal
Increase in property taxes
4 January 2025 | 11 replies
If they do, then you can likely find another tenant for that amount fairly easily, as I would assume the entire town's taxes are up- so if someone really wanted to be in town, that price is the new normal.If your taxes increased that substantially in a C neighborhood, your tenants would way more likely give push back for that type of increase- even though you're not being greedy, you're just imposing the same raise you were given.Often the buyer who had the "well, the numbers are better" mentality is only looking at year 1.
Dan N.
Can a Wyoming LLC own an investment property in ANY state?
9 January 2025 | 18 replies
I ask because most who write similar posts on BiggerPockets are unable and I am sorry but "A unique blend of benefits that are favorable for R.E investors who are sole proprietors" sounds like something a fear mongering asset protection company will tell you before upselling the expensive and unnecessary asset protection product.
Jorge Caceres
Utilities included worth the risk?
7 January 2025 | 28 replies
Some amenities are crucial and obvious (pots and pans, plates, linens, good Wi-Fi), some are unnecessary and obviously so (personal movie theater with arcade game room), but the trickier amenities lie in the 2 middle zones.What are some necessary amenities that you might overlook?