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21 July 2024 | 4 replies
Just some food for thought on your hunt for the Red October.Are you looking hire an ttorney To teach you creative strategies And recommend Creative strategies to you, or are you looking for a chain dog to implement your creative strategies?
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21 July 2024 | 7 replies
Crimes reported doesn't necessarily translate to safety or bad investment.
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22 July 2024 | 120 replies
Why wouldn’t you start with food control?
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20 July 2024 | 28 replies
AI machines can extract resources such as minerals and food and distribute them at no cost.
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20 July 2024 | 4 replies
When done improperly, as so many people do, an LLC is just a "security blanket"; it gives you the illusion of safety and little else.
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21 July 2024 | 12 replies
Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.
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20 July 2024 | 11 replies
Samantha Reeves,Thank you for your reply I went through the Handbook , and although it's quite detailed , it seems to me that as Long as the Roof is in Good shape, there is no Peeling Paint on the Exterior of the house, and that the HVAC system is in working order , as well as there are no Safety hazards regarding the property/house.What I'm not sure on though , is what if there's Some rotten wood on the exterior and or you want ( Need ) another $5,000 to upgrade the house .....new cabinets, faucets, flooring, re-paint the inside ?
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19 July 2024 | 36 replies
Here are some tips I use to keep with it.I schedule my gym time in calendar, just like another meeting.I built a gym at home in my basement (right next to my office) as I prefer that to going to a crowded gym.I shop once a week and focus on mostly healthy food.
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20 July 2024 | 9 replies
@Lien Vuong Quincy is my personal favorite due to asian food and community but as you mention slightly far from the city for STR but if I get a walking distance from the T, that would be doable.
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19 July 2024 | 0 replies
What to do with the dirty water (whether that be because of food, shower water, or bodily discharge) is the one that worries me the most.