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2 December 2024 | 34 replies
That was a huge mistake as they wanted roof replacement & grass cut. $6k for roof, $1200 to cut the grass on 10,000 sqft lot.
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21 November 2024 | 15 replies
I would be happy to have a call sometime to discuss your plans and see what I can do to help avoid some of the mistakes and also what to look for in this market as it is very competitive.
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18 November 2024 | 1 reply
Since I'm the sole member of the LLC is there anything I need to be concerned about or consequences if I make a mistake?
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19 November 2024 | 6 replies
Then, if you believe he made a mistake, come back here for a second opinion.Just one comment: you cannot carry anything back.
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18 November 2024 | 12 replies
One mistake could extend the tenant's stay for months without any income, not to mention the stress it could cause.
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25 November 2024 | 23 replies
The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.
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18 November 2024 | 27 replies
@Andrea LeeRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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20 November 2024 | 19 replies
You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.
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18 November 2024 | 9 replies
@Fernando CarloIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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19 November 2024 | 23 replies
The forums are full of self-managing landlords who make little mistakes that turn into big mistakes that cost them years of cash flow (or more).If you want to be a DIY landlord, I recommend books, blogs, classes, or other resources to educate yourself quickly.