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17 April 2024 | 2 replies
I agree with @Erin Spradlin - I think if you can confirm/convince potential tenants that there is plenty of on street parking it is not an issue, but if it is in a busy neighborhood where finding parking could be difficult I think adding the parking area would help a lot.
18 April 2024 | 83 replies
Yes there are quite a few around 350k, with lesser rent potential
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17 April 2024 | 17 replies
Potentially, but highly unlikely.
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18 April 2024 | 18 replies
You should also consider whether the property has the potential for value appreciation or renovations that could boost your rental earnings.
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17 April 2024 | 6 replies
As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.
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17 April 2024 | 1 reply
Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.
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18 April 2024 | 12 replies
More details/example fees: Management Fee: 10% of gross rent collected, $50 minimum per unit.Leasing: One full month’s rent upon execution of a leaseOther: 10% will be added to each invoice for any repairs, maintenance, improvements, landscaping, and snowremoval for the Property 50% of late fees collected $50 lease Renewal Fee $50 per utility turn on $25 posting 3 day notice $100 per court appearance witness fee $50 tenant removal with bailiff or police $50 to meet inspectors for housing voucher programs, occupancy certifications, and/or POS or rentalinspections Broker may charge to offset Broker expenses for postage, key copies and other misc. expenses $100 set up fee $120 annual consortium fee ($60 March 1st, $60 Sept 1St)Given all this, how do I input it when I'm making calculations for a potential investment (do I put this in as >10% like 12%, 15% or 20%?
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17 April 2024 | 2 replies
Between the Airbnb and the house, the potential rental could be $4,500.
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16 April 2024 | 1 reply
These platforms allow you to list your camping sites and manage bookings, providing exposure to potential campers.Liability and Insurance: Before proceeding, consult with a local attorney or insurance agent to understand your liability exposure and ensure you have adequate insurance coverage.
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17 April 2024 | 0 replies
There will also be a form for potential leads to enter their information for you to reach back out to them.