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15 December 2024 | 30 replies
Some strategies to lessen the negative cash flow are: house hack and rent out the other unit as a mid-term rental (to traveling professionals or for people temporarily displaced because of insurance reasons like fire) or short-term rental (business or vacation).
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3 December 2024 | 2 replies
For further learning, here are some solid bookkeeping books that can enhance your knowledge:"The Book on Managing Rental Properties" by Brandon Turner – This book covers not just the property management aspect but also has sections on bookkeeping and managing finances."
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17 December 2024 | 13 replies
Being unauthentic is one of my largest negatives.
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5 December 2024 | 31 replies
What aspects of real estate do you love?
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3 December 2024 | 6 replies
I have hired another company to handle all other aspects of my financial needs.
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4 December 2024 | 17 replies
As others stated, selling could be beneficial if you are going into negative cashflow.
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3 December 2024 | 5 replies
However, beyond the repair aspect, I would also caution that you understand the auction process and how properties go to auction, who is foreclosing, and why.
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28 November 2024 | 10 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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27 November 2024 | 4 replies
Most of the negative feedback on BBB has to do with their lack of responsiveness, which could be a growing pain issue since they are affiliated with at least several large REI groups that I am aware of, so are presumably overwhelmed with new business right now.
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4 December 2024 | 12 replies
The initial heartburn of lost reviews will likely be negated by more bookings (because guests don’t often like booking from large companies like Evolve) and hopefully better reviews with you as PM.