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8 August 2024 | 2 replies
From a bookkeeping standpoint, this makes everything a lot easier as long as each financial account is used the way it is supposed to be used (no commingling).I would just caution you to think about the functionality of that structure within your day-to-day business operations before pulling the trigger on it.Make sure you're keeping things as simple and efficient as possible.
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9 August 2024 | 11 replies
Advertising more guests might be more harmful to your bottom line than you think.
8 August 2024 | 23 replies
Institutional investors such as BlackROCK who just bought all major rental highrises in Miami are the sole reason why this market is completely different than the past one you are thinking about.
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8 August 2024 | 5 replies
Even the people you think would never lie or walk away from their responsibilities still do from time to time.
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7 August 2024 | 12 replies
I think it is on a Wednesday night each month but I can't recall which.
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8 August 2024 | 9 replies
We have a break lease fee (we operate in Kansas and Missouri) and I know we use a flat fee and not a multiple of the rent (I think because that way the deposit cannot be applied to it or for some reason with local laws, admittedly I don't remember).The main thing is though that 1) it's in your lease and 2) it's in compliance with your local and state laws.
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9 August 2024 | 7 replies
I think many folks getting established simply may not have the cash.
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8 August 2024 | 4 replies
Not sure what to think of that.
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8 August 2024 | 2 replies
I put some numbers below into this Rent or Sell calculator.https://www.narpm.org/members/resources/rent-vs-sell-calculator/ESTIMATES ON ROI (15 year time frame)at 5% Appreciation would profit $100K if SELL nowat 6% Appreciation would have $3,500K more if KEEP and sell after 15 yearsat 7% Appreciation would profit 122K if KEEP and sell after 15 years(Assuming a conservative 6% ROI on money invested from sale.)NOTE: The property appreciated 10% in the last year so I’m thinking 7% over the next 10-15 is reasonable.DETAILSSale Value: $520,000 (Best guess)Paid: $437,000Original Mortgage: $415,000Mortgage Balance: $380,000Interest: 3.375%Monthly mortgage: $2,899Mortgage Difference: $1064Annual Taxes, Insurance, HOA etc**: $20,345**$13,865 (Non Homestead tax) $4,680 (HOA) $1,800 (Landlord Insurance)Monthly Rental Charge $3,500*Appreciation 7%Years to Hold: 15More assumptions used in ROI Estimates Above90% occupancy,15% capital gains charge6% selling feeRate of return on gains if selling now instead 6%Annual maintenance 1%Annual rent increase 4%$3,500 is slightly aggressive. unlikely I could get more.Thanks in advance for any constructive thoughts and comments!!!!
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7 August 2024 | 8 replies
I think it's not only possible to advertise to this niche, I think you should consider setting up an online group or community around this.