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18 January 2025 | 8 replies
And a lot of old school GCs may not have the ability to take a CC and may not care to learn how to...Main question is: why do you want to do this?
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21 January 2025 | 18 replies
This might sound silly, but an old fashioned spreadsheet if you only have a deal or two.
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16 January 2025 | 8 replies
This is old info as fortunately I have not needed this.
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20 January 2025 | 7 replies
Maybe she's good right now, but she may add six more cats or her unemployed 47-year-old son.
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9 February 2025 | 173 replies
Perhaps residential rental is a dirty business no matter what market you're in and how long you've been in.Funny how both you and @Charles Kao mentioned the word "greedy." haha,Thanks mate and I appreciate it.It's not just the turnkey operators that should stay local but more so the marketing companies and sales channels selling turnkey properties.They put their name/brand behind too many markets and they usually ruin it within 24 months.Their have been so many instances of this happening over the years (I won't mention any names but they are all known and well talked about on for forum).Only very few are still alive that work in multiple markets but even they had many setbacks and lost face on multiple occasions and in multiple markets.As I mentioned in my prior comment, it's hard enough doing a good job in just one market lolRoofstock isn't a turnkey company by the way.They are more of a tech platform.VC's gobble that stuff up.Not sure if Roofstock has any IP with their tech but if they do, it doesn't look like anything fancy or that can't be easily replicated IMO.VC's are very hot lately on real estate tech so I'm sure Rooftsock will be able to raise more capital if needed and expand further.Business these days has become more about raising capital, spending it, raising more, spending it and then hopefully getting a high enough valuation for some of early investors (Series A for example) to sell and make a high ROI.I like the old fashioned way of doing business lol.It's called "Growing revenue and profit every year and never loosing or borrowing money".Yep, you call me "An old dog" business owner I guess lolThe market is full or "Wantrapreneurs" these days and not many true entrepreneurs.Anyway, back to turnkey lolTurnkey companies don't need to nickel and dime on PM because they make their margin on the sale and not necessarily on the PM.Don't get me wrong, they will still make their money on the PM side but they will also cover a lot out of pocket themselves.Most of us want our clients to be happy and to buy more so we go above and beyond for them during the after sale process.Even if it means putting our hand in our own pocket sometimes.12% is high for PM but not unusual.We charge 10% and for some lower class properties we charge 12%.PM is a ****** business mate and you only start seeing something come from it after you manage around 300 units.It's usually a **** show for the first 3-4 years lolPM is a thankless job mate and tenants will always complain and post bad reviews no matter what.As long as their aren't many bad reviews from landlords, that's what matters most when judging a PM company.Here is a tip for you.Any PM with reviews of 4 stars or better on Google is doing a very very good job.Even 3.5 isn't bad.3 stars is borderline IMO (Make sure to check them out to see if any landlords are posting complaints).You can't win with contractors mate.It's a non stop cycle of "hire and fire".It's just a cost of doing business in this line of work.Thanks mate and much success
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15 January 2025 | 7 replies
I currently work with investors building and diversifying their portfolios with Single-family homes over the midsouth/midwest, and I would love to connect with you and share some insight on the turn-key world and swap investing goals.
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6 January 2025 | 2 replies
I am 20 years old and trying to learn as much as i can about real estate so that when i graduate college and have a steady income Ill be able to make smart investments hopefully leading to financial freedom.
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13 January 2025 | 30 replies
But because he raised rents each year, and rents were increasing by ridiculous rates, tenants constantly moved, had to sell the property at a loss several years later due to constant vacancies.Finally, the most interesting situation I ran across was a tenant, a 93 year old tenant paying rent on a 2BR apartment for $90/month.
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16 January 2025 | 3 replies
Hi, I know this is an old post but if you still will recommend that commercial property management, that would be great as I am in the same boat.
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14 January 2025 | 4 replies
However I did note that houses are mostly really old, e.g. 100 years or older... any idea if this poses challenges in things like lead paint presence, outdated wiring, rusty plumbing, etc., or have many of the homes already been updated?