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11 January 2025 | 11 replies
Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.
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5 January 2025 | 7 replies
I underestimated utilities in my early years, so I ensure those are properly captured (electricity, gas, water and trash).
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29 December 2024 | 8 replies
In my opinion, the best agents, appraisers, home inspectors, contractors, lenders will utilize AI as a complement towards their existing businesses to spur greater growth and operational efficiencies.
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4 January 2025 | 23 replies
I may be 19 but that does not have any factor in how I efficiently operate my business, as you can see.
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31 December 2024 | 20 replies
Let me break it down further to clarify the mechanics of the plan.Balancing Rental Prices with Financial Sustainability:The goal to drive down rental prices isn’t an immediate or universal adjustment—it’s a phased approach that leverages time, scale, and operational efficiency.
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19 January 2025 | 41 replies
I'm sure most of us don't say our rentals come with a furnace and hot water tank, but they do and they are not to be removed.
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5 January 2025 | 5 replies
I am a bit concerned about water long term in AZ and NV.
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3 January 2025 | 26 replies
This change benefits consumers and aligns with more efficient real estate markets seen in other countries.
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11 January 2025 | 12 replies
My updated expected monthly rental income will be $2,800, resulting in a cash flow of $795 per month (excluding my share of the split utilities).I plan to set aside at least 80% of my cash flow for property-related expenses.Additionally, I’ll be installing keypads and security cameras for enhanced safety and operational efficiency.
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1 January 2025 | 4 replies
The property has 2 electric meters and one water meter.