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5 June 2024 | 2 replies
After took some time of understanding this email.
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3 June 2024 | 47 replies
--all of which can be useful info, because it will help you understand the potential causes of problems that occur in the future).
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4 June 2024 | 13 replies
Once you feel you've built a strong team with your first property and have solid systems in place, I would then start buying more aggressively and taking on bigger projects.I suggest reading this BP article on the core 4.https://www.biggerpockets.com/blog/core-four-real-estate-team
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5 June 2024 | 10 replies
And it really took years to understand how monumentally wrong about so many things he was, and to allow myself to say it.
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5 June 2024 | 7 replies
Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.
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5 June 2024 | 8 replies
There are some rules and exceptions that can be helpful to understand.
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5 June 2024 | 3 replies
In any case, it's my understanding that the original Fix-It-All compound has been pulled off the market by its manufacturer.
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5 June 2024 | 10 replies
It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions.
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4 June 2024 | 221 replies
Was it your agent who did not fully understand or explain to you how to properly use it?
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3 June 2024 | 9 replies
It sounds like you're in a solid position to start investing in real estate!