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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 | 13 replies
In the end it took 100k off my tax basis which is still a large increase but I can afford it without having to sell and it gives me a huge equity boost so my quarter million dollar house is now a half million dollar house but it being taxed at 400k which was bound to happen sooner or later.thanks everyone for the help!
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21 May 2024 | 9 replies
Boostly is good but they have been struggling to get people's sites up and going.
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20 May 2024 | 17 replies
Is there anything else I need to do to boost my bookings?
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22 May 2024 | 27 replies
The last 12-24 months new supply levels have increased dramatically and you're seeing vacancy rates expand, rental rates flatten or drop, and days on the market rise.
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20 May 2024 | 7 replies
I have a handful of rentals in Ramsey County - after a property is updated and sold the assessed value can jump up dramatically, but then the future increases are much slower and more predictable in the following years.
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20 May 2024 | 27 replies
., and the neighborhood is up in price and appearance so much that it has certainly improved dramatically since I bought a house at Leo and Notre Dame in 2012.
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24 May 2024 | 100 replies
Additionally, domestic travel may see a boost as people seek local getaways over expensive international trips.
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22 May 2024 | 77 replies
Here's another feature that greatly boosts the app's value - the ability to form a team of drivers and track their routes.Justifies the price for me!
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20 May 2024 | 28 replies
I specifically excluded *bonus* from that prior post for that very reason of ineligibility, however, if the cost seg carves out 20% of the basis as 5-year, 20% as 7-yr, 20% as 15-year and the remainder as 39 year (assuming commercial), that’d still front one heck of a depreciation deduction using MACRS 200% DDB.Will still be some net gain, but that would dramatically dramatically reduce the cash he’d have to fork out to uncle sam… PLUS … he’d have new depreciation again!