
29 June 2024 | 8 replies
Since I am still starting off and only have 10 units total, I do not think I would be able to provide enough work for a full time VA.

28 June 2024 | 0 replies
Partnering with Zachary Clemmensen provided valuable local insights, making this an attractive and strategic investment for Partner Driven.

28 June 2024 | 1 reply
This is pretty important if you own property…but it can also provide assistance for your tenants too.When an area of the country is declared a Federal Disaster Area this opens up Federal Assistance for the residents of that area.

28 June 2024 | 0 replies
Partnering with Seth Choate provided valuable local insights, making this an attractive and strategic investment for Partner Driven.

28 June 2024 | 4 replies
I hope someone is able to answer my question, or at least provide some advice.

26 June 2024 | 19 replies
If you're going to use national average data, I would recommend using all of the other national data to provide as a benchmark.

28 June 2024 | 1 reply
I have been digging through the guidance and am wondering if anyone has ever taken advantage of the following clause regarding 203k improvement types from the HUD SFH Handbook 4000.1, pg 374:- "reconstructing a Structure that has been or will be demolished, provided the complete existing foundation system is not affected and will still be used;"- "repairing, reconstructing or elevating an existing foundation where the Structure will not be demolished;"Guidance link: https://www.hud.gov/sites/dfiles/OCHCO/documents/4000.1hsgh.pdfHas anyone ever built a new home on top of an existing foundation using a 203k loan?

28 June 2024 | 4 replies
McGeeI use virtual assistants across my business cold calling, social media, etc - we actually provide our real estate virtual assistants to our partners / clients.
28 June 2024 | 10 replies
Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

27 June 2024 | 14 replies
Has anyone used an affiliate marketing strategy to refresh their property, create unique experiences and provide local products to their guests?