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10 June 2024 | 11 replies
Many rehabs in my market do not use a GC and are owner builder permits I just completed my most costly unit rehab.
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9 June 2024 | 6 replies
Initially they had a free version, which allows to manage upto 25 units.Since it is only 1 unit, PM software might be an over kill.
8 June 2024 | 6 replies
With 8 units that is potentially $50,000 per unit.
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9 June 2024 | 5 replies
You may find that accessing sewer comes with a high one-time tap fee plus a fee for each unit that will be served, the same for water.
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10 June 2024 | 6 replies
Whether it is to build out your own in-house PM company, renegotiate vendor contracts on your properties with your new unit count as your bargaining chip, or just build out a more robust administrative team, now is the time to do it to support your needs for the next market phase.
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11 June 2024 | 14 replies
Private money lending also requires certain licensing requirements for 1-4 units in addition to fractionalization and participations being deemed a security.
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9 June 2024 | 2 replies
I will be asking her to leave the unit as well.
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9 June 2024 | 8 replies
"for $___/year, we provide "x" additional inspections")6) Liability policy that covers tenant intentional damage, criminal acts, and unpaid rent when skipped or evicted (through insurance provider that provides this kind of coverage)7) Financial reports per quarter (as whatever period makes sense to you) (this can allow you to advise the owner on the health of their portfolio)8) End-of-year review of the property to show conditions and suggested needed and preventative maintenance items 9) Preferred vendor discounts (requires a contract with a vendor to give better pricing)10) Eviction protection programs (this is usually done "in house" when you have sufficient number of units under your management to be able to offer this kind of program)11) Legal services (requires agreement with landlord attorney to provide those services at set fees)12) Professional photos option (for enhanced listing)13) Professional, licensed home inspection (this is more relevant for older homes to ensure safety and habitability are addressed) 14) HVAC filter replacement program (this can also be a program offered to tenants)15) Pet and ESA screening through pet screening vendor (helps to streamline and increase quality of screening)16) Client portal account for ease of communication, updates, reports, etc.
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9 June 2024 | 8 replies
We then used that to buy a 4 plex and put all of the 'cash flow' towards paying that note off within the 5 years and now have both properties cash flowing nicely for no more input from our SOLO401Ks.Right now I am working with a seller that is looking to sell a portfolio of about 10 units with seller financing and he is open to doing it non recourse.
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6 June 2024 | 7 replies
It's in a B-class neighborhood that's about 20 min outside of the city center (in more of a suburban neighborhood).All of the units are 1/1s though.