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23 January 2025 | 2 replies
of course the sale of hurricane damaged houses also confuses the issue (my house had no such damage but is only about 4 blocks from houses that did).
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21 January 2025 | 15 replies
I'm also having issue with no onsite manager, but in regards to insurance.
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5 February 2025 | 29 replies
Of course it this becomes an issue for the property management company, they may chose to stop managing the property.- The owners don't share any of the equity growth with the management company.Drawbacks of Turnkey properties- They are usually purchased at market value (or sometimes just a little bit above) so that after paying closing costs the investor who purchased the turnkey investment has a lower net worth than before the purchase.- There is no discount or created equity over and above the amount that is used as the down payment for the home.- The management company charges a management fee of 10% - 15% which can be a little higher than average property management companies, but that cost may be offset by higher quality of services.- The management company also charges for other services such as fee for coordinating maintenance and repairs, and turnover and releasing.
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4 January 2025 | 7 replies
On June 7th, we sent an itemized list of deductions via text; he responded on June 8th, disagreeing and threatening legal action.
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29 January 2025 | 6 replies
I haven't had any issues with my tenants either.
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15 January 2025 | 10 replies
Many would be surprised to learn that about half of all states allow discrimination based on marital status, meaning a landlord can reject applicants that are not related and not legally married.As always, it's important to know the laws of your jurisdiction.
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23 January 2025 | 10 replies
It’s ideal to have them view the property after the inspection, so they can consider any issues discovered during the inspection in their bid.
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16 January 2025 | 0 replies
Pressure to use affiliated servicesHidden fee structuresPROFESSIONAL BOUNDARIES ⚖️Good QIs maintain:Clear fee disclosuresWritten policiesProfessional distanceEthical guidelinesWATCH OUT FOR 👀QIs who:Push investment productsOffer tax or legal advice without credentialsSuggest "creative" solutionsPromise guaranteed returns on exchange fundsBEST PRACTICES FOR VETTING 📋Check multiple referencesVerify professional membershipsResearch online presenceReview complaint historyExamine years in businessINDEPENDENCE MATTERS!
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7 January 2025 | 3 replies
I don't necessarily need the standard features of pm software, such as rent collection, bookkeeping and maintenance requests, though that could help; but do need a clearinghouse of important information, such as leases, legal docs and other information; maintenance vendors I use; maintenance history; and some kind of tracking system, where I can record the various current projects I'm working on within the business.
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31 January 2025 | 6 replies
To avoid issues, hold the property in the trust for a year, ensure the LLC is properly structured, and consult a CPA or 1031 exchange expert to confirm compliance with state and federal tax laws.This post does not create a CPA-Client relationship.