Hi David Oh-You asked about a profit sharing bonus for property managers to give them an ownership mindset and incentivize them to align with your goals for quality property management.I love this idea.While I do not have a formal profit sharing plan, I always like to recognize the property management company with gift cards to the operators and the people within the property management company I have regular contact with that help keep the property running well and keeping costs down.Related to this, a handwritten thank you card to the same people periodically goes a long way.I also like to do the same for the tenants that have been paying rent on time.To your success!

With big benefit potential of possibly retaining "Graduated" persons who are now highly trained, proficient employees. 

LLCs are a legal tool, not a tax one.Transfer from personal name to LLC/Due On Sale ClauseIf one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title.

A warranty can bring peace of mind, especially if the tenant values quality and reliability.Here’s our rule of thumb:For budget-friendly rehabs: Used appliances from a reputable source can be a smart choice.

Learning how to use the correct tools and materials for a job, YouTube videos and even ChatGPT will help you get through 80% of the problems you will run into.My rule was I would not mess with HVAC, plumbing and electrical Or if it would take more than a few hours. 

What doesn’t work today may work in the future.Another challenge with the traditional BRRRR model is the resulting high debt load often isn’t fully covered by rental income, especially in today’s high-rate environment.

I have a great planning tool that could help you with planning your acquisition strategy for the next 10 years you might find helpful.  

•If CPI remains high (3.4% or above): Mortgage rates are likely to stay at current levels or even increase slightly as the Fed remains restrictive.

I highly suggest as many in-person networking events as possible! 

For high interest mortgages, usually break even or negative.