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22 May 2024 | 1 reply
That’s another task in itself if I was to continue since I’m completely new to this.
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22 May 2024 | 20 replies
Clearly I'm traumatized.The lesson I learned is its not MY money to be cheap with, its the property's money which should come from its repair reserves fund.Now instead of having 1 person do it all and stress me out, I go straight to the specialist for the task.
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21 May 2024 | 4 replies
I do not have any debt and my credit score is 800.Life has been an adventure and now I find myself at 30, staying with family rent-free.
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22 May 2024 | 19 replies
To find and coordinate different vendors for different tasks and trusting it will get done, then not having the time to deal with what comes when a repair or service goes wrong.
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21 May 2024 | 4 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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22 May 2024 | 77 replies
I can usually get through 50-60 in an hour although I will be outsourcing this task soon.
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18 May 2024 | 2 replies
Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.
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20 May 2024 | 12 replies
This seems like an impossible task in today market but I decided to do my research on creative financing anyways.
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21 May 2024 | 25 replies
As for LTR, you can save time and focus on other tasks, while the income is stable but the opportunity cost could be lower when you're charging a flat monthly rent.
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18 May 2024 | 11 replies
If your goal is to grow your portfolio and outsource all tasks, you can't go wrong with Quickbooks Online.