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30 January 2025 | 34 replies
As the Investor Relations Manager, I would be happy to talk with you about any issues you're having if you'd like to reach out.
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29 January 2025 | 14 replies
So I get your hesitation to be too demanding and your desire for the problems to go away as fast as they can, however since you have NO property manager ( I don't use one either), it is incumbent that you take a more ACTIVE approach with management of your property.Let's review your situation. 1st time leak occurred, you sent a plumber over to find the problem.
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29 January 2025 | 40 replies
Software return people with specific attributes, be it foreclosure, whether they bought houses in cash before, whther or not they have dealt with a water shut-off list.
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3 January 2025 | 18 replies
Obviously they are putting more pressure on out of state investors that invest within Cleveland proper, but spreading liability to the property manager is a new twist.
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10 January 2025 | 14 replies
Refi after construction.These numbers consider only the portion of costs of the HEL attributable to the land purchase, not the payoff of the HELOC (which we took out to buy the Seaside condo).Cash In: $66,166 (Cash, 1 year of debt service of HEL, debt service of const. loan, furnishing)Amount Financed: $548,000 (home equity loan + construction loan + closing costs)Total Cost of build: $614,166ARV: $850,000 (or rather "after construction value")Refi $637,500 (75% of value + closing costs) Cash Out $89,500New payment $4500/month (54,000/year)Estimated Cash Flow (pre-tax numbers, so actual mileage may vary)airBNB year 1: $70,000 (net income $16,000)airBNB year 2: $100,000 (net income $46,000)airBNB year3+: $120,000 (net income $66,000)ROI (construction year): 0ROI Year 1 of STR: 24.2% ROI Year 2 of STR: 69.5% ROI Year 3+ of STR: 99.7% Did I calculate these ROI numbers right?
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15 January 2025 | 24 replies
So, you’re at someone else’s expertise, decision making, experience, analytical skills, information flow, managerial capacity, oversight, etc.
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3 January 2025 | 3 replies
If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.
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1 February 2025 | 21 replies
On the repairs - I re-read your original post, and you did seem to mention that you have a property manager - is that accurate?
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15 January 2025 | 15 replies
Hi Jasmine-Congratulations on being ready to turn your primary residence into a rental.Your question is should you use a property manager or self-manage your property.If there is enough positive cashflow or you can afford to pay a property manager, I always recommend doing so for the following reasons:1.
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12 January 2025 | 23 replies
The income of a property manager is dependent on whether you property is filled with tenants as well.