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22 December 2024 | 0 replies
The problem comes into play when those milestones are not good indicators of one’s progress towards a goal.
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7 January 2025 | 16 replies
How about realizing that when you use the current property taxes of a property you are buying to calculate your per door profit that the following year your taxes will reset to what YOU paid for the property and will likely significantly increase your tax expense - which can take you from a positive cash flow to a negative cash flow on a low cash flow property… now you are paying your tenants to live in the property every month out of your W2 income hoping for an appreciation play until rents hopefully increase.I could go on and on.
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30 December 2024 | 103 replies
These are set it an forget it plays. 7.
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16 December 2024 | 21 replies
STR even more than LTR are management intensive and the host can make or break the ROI.
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23 December 2024 | 9 replies
Use surveys to gather feedback on their experience.When tenants feel valued and respected, they’re more likely to take care of the property and renew their leases, saving owners time and money.Fairness with VendorsVendors play a crucial role in maintaining properties, and treating them fairly ensures they remain reliable partners.
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19 January 2025 | 269 replies
@Marco Teixeira I'm looking into it as well, the main two issues I'm trying to solve are that not only you have to find the property but be conscious about to which city hall that area belongs, that makes a huge difference in time frames if you want to license it as senior living, the other thing is scale, it's more management intensive (staff 24/7, doctor visits, nurses, food, etc...) therefore if you don't have enough beds it might not make sense, you'll end up having to charge too much per person for you just to break even, that being said there is definitely a HUGE demand for it.
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20 December 2024 | 27 replies
You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this.
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21 December 2024 | 6 replies
I’ve seen situations like this before, and keeping control of the contracts has always been the better play.
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1 January 2025 | 26 replies
@Timothy Franklin look her up on socials and you may be able to get some guidance, but this is playing with fire from where you are at now.
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20 December 2024 | 8 replies
Hence you can see how interest rates play a large role in determining cap rates in a market in my opinion.