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29 March 2024 | 17 replies
Each lender will have their own criteria but here are some tips for getting funding as an LLC…Lenders will often require these documents: Employer ID number (EIN)Your LLC’s operating agreement (the most important part is the list of owners and their percentage of ownership)Income documentation for the business which would include bank account informationInformation on any rental properties you may already haveThe personal income, debt, and credit information on each member of the LLCWhen you’re getting funding under an LLC, bear in mind that personal guarantees or credit checks will also be required.
30 March 2024 | 17 replies
Landlords may be looking at totally different market rates as the market will bear, administrators here are looking at thousands of inspected and qualified units which may give a different inventory assumption.
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28 March 2024 | 10 replies
As a PM, I would be worried if a new owner did not ask me at least some of the following:- Company Specifics: first question should be are they licensed (how many properties do you manage, what type/class of properties do you manage, how many property managers on the team, how many years have they been in operation)- Pricing (what is the cost to manage the property (ies), is there a leasing fee (commission structure), is there an onboarding fee, is there an early termination cost, are there ad-hoc costs for maintenance, tenant screening, or miscellaneous costs - such as to appear in court if you have an eviction)- Service offerings (do you have a maintenance team, do you come equipped with a list of contractors/vendors, do you offer the software and portal access for tenants/owners, etc.)- Financial Services (you (owner) should think about what you want the PM to handle, if it is everything from paying bills to insurance procurement to P&L statements then ask that, if you don't want the PM so heavily involved in financials and just more on the surface level of the operations of the property then that is okay too!
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1 April 2024 | 67 replies
Aside from Google searches and Facebook groups, you have the website of developers, the website of real estate agents and master brokers, Mexican sites like Vivanuncios and another one I can't remember the name of, Point2Homes (beware that many if not most of the listings in that one are old, fake or even possibly scams - buyer beware in this one: if it looks too god to be true, it probably is).Bear in mind two other points:1.
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28 March 2024 | 11 replies
Sounds like you're smarter than the average bear, err, arbitrager. :)
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27 March 2024 | 3 replies
I am going to try and explain my question well, but bear with me.My parents and I split a 12 acre plot of land.
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26 March 2024 | 4 replies
I’d like to avoid any interest bearing loans.
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27 March 2024 | 14 replies
There are more bears than PMs 🙂With that being said she would likely be adopting whatever processes and systems I put in place.
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26 March 2024 | 7 replies
Utilities are separate and paid to the tenant.Upgrades have no bearing on section 8 rent amount.
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26 March 2024 | 8 replies
You might utilize these extra cash for a down payment on a different house.Another good alternative is seller financing, which may be arranged directly with the seller and may entail a down payment and interest-bearing payments of the remaining amount over time.