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7 December 2024 | 15 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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15 December 2024 | 59 replies
If the guidelines are clear before they sign the dotted line, there is a mutual respect, and a good vetting process is performed I think I can minimize tragedy.
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4 December 2024 | 4 replies
From what I saw for the most part the big names you typically hear in insurance typically performed well for people.
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6 December 2024 | 25 replies
Best way to find cohosting gigs is to look for properties that should be performing well based on their location and quality of furnishings or amenities but cannot seem to get good reviews.
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8 December 2024 | 28 replies
Updated performance -
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30 December 2024 | 89 replies
If you can build confidence that regardless of how the STR performs, you will pay the rent every month and take all the risk.
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3 December 2024 | 5 replies
For example, bank accounts we control and specific investor capital accounts are all tracked in this same software.For our investor reports, each month we download spreadsheets, write a narrative for the month's performance and then export it all to a PDF.
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14 December 2024 | 101 replies
Maybe it would have skyrocketed our performance, but I doubt it.
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6 December 2024 | 12 replies
Have you found certain neighborhoods performing better than others?
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5 December 2024 | 4 replies
It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.