Leslie L Meneus
Networking? What do I do now?
9 January 2025 | 13 replies
No deal(s) just insights & offers to obtain a premium membership that cost ten times the membership you already have (with monthly or annual dues).
Joseph Beilke
Costa Rica Info
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.
Marina Wong
711 Rescue - does it help LP in case of imminent foreclosure
21 January 2025 | 19 replies
To clarify your question - BP is not syndicating any deals itself so the reason for the charge for PassivePockets is charged on both the syndicator side and on the LP side, though LPs pay a marginal amount, less than $500 annually.
Terrence Adams
Rental Property Investor Newbie
12 January 2025 | 12 replies
Include all expenses like property taxes, insurance, maintenance, and property management fees if you’re not managing it yourself.Network Like Crazy: You’ve already made a great first step by joining this group!
Reyna Ayala
How many bank checking /saving accounts are needed as a first time landlord
8 January 2025 | 10 replies
If you have more than one LLC, each LLC should have its own set of accounts.Checking: Collect all income here, then use it to pay bills, the mortgage, or maintenance.
Julio Gonzalez
Cost Segregation FAQ
31 December 2024 | 3 replies
The study could also identify the opportunity to capture additional benefits such as dispositions, and repair and maintenance expenditures.
Devan Praska
Anyone Use/Make a "Homeowner's Manual" For Single-Family Home?
5 January 2025 | 5 replies
I think it's great as it includes warranty information for appliances, type of hvac filter, light bulbs and general maintenance etc
Kiley Costa
Pay Off STR or Invest in Another Property?
11 January 2025 | 9 replies
I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.
Mary Peale
Seeking Advice on STR Profitability & Strategic Adjustments for Year 2
15 January 2025 | 15 replies
Here’s a quick breakdown of our financials:Operational expenses (excluding mortgage): $33k (Jan-Dec 2024)Annual mortgage payments: $58kTotal needed to break even: $91k+Income earned this year: $80kClearly, we need to bridge a gap of about $11k just to cover our expenses, and I’m exploring options to increase profitability.
David Bull
2nd house out of 25 in the next 4.5 years
8 January 2025 | 4 replies
Accounting for 10% management, 5% vacancy (2 year lease locked in on tenant that has been there 2 years already..) 10% cap ex, and 5% maintenance.