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30 December 2024 | 7 replies
From simple rules like permits to outright bans so that is a huge risk IMHO.
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2 January 2025 | 18 replies
@Matt Weddon - make sure all reasoning & communication around the rejection stays clear of all federal AND state protected classes under Fair Housing.
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29 December 2024 | 2 replies
Yes both states have licensing requirements for contractors and subcontractors which can be found with a simple google search
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12 December 2024 | 7 replies
Last time I used them it was quick responses and communication and now I cannot get in touch with them is anyone else having this experience?
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9 January 2025 | 21 replies
To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.
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26 December 2024 | 2 replies
Building trust can lead to better negotiations and more opportunities in the long run.Managing seller relationships is about clear communication.
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6 January 2025 | 8 replies
And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.
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28 December 2024 | 13 replies
I highly encourage all my tenants to keep open communication with me about any struggles to pay rent, and generally they do.
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25 December 2024 | 3 replies
For this situation, communicate very clearly and bluntly with the tenants and try to realign expectations so they don’t do this same with you.