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22 May 2024 | 19 replies
Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.
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22 May 2024 | 6 replies
Totally agree with the posts above.
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22 May 2024 | 13 replies
This post isn’t how can I make the house cheaper or how can I make more from it.
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21 May 2024 | 138 replies
Originally posted by @David Chwaszczewski:Has anyone done an eQRP?
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21 May 2024 | 3 replies
First post, been reading and listening for years now.
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21 May 2024 | 58 replies
Nor do I understand why anyone would resurrect a 9-year-old post like this.
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21 May 2024 | 44 replies
Ill keep you posted on my experience with them.
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22 May 2024 | 7 replies
The screenshot you posted does not show a particularly soft market by itself.
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21 May 2024 | 53 replies
Bukka Levy did you say in a previous post that you used Plastiq for a down payment on a property?
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22 May 2024 | 1 reply
This post explores strategic approaches to strengthen the resilience and growth potential of CRE investments in the face of these evolving dynamics.Embracing Technological InnovationTechnology plays a crucial role in transforming the CRE landscape.