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23 September 2024 | 12 replies
@Stuart Udis you sound like one of the good guys :) This line is GOLD, "90% of people who post on BP about entity formation or transferring properties from their personal name to an LLC cannot articulate the risk they believe they are protecting against"Its a game of risk/reward.
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22 September 2024 | 0 replies
I remember hearing about one on BP but can’t remember the name.
22 September 2024 | 8 replies
OR should I be happy with what I'm already being charged and not renegotiate.Right now I pay 100% of first months rent for new leases$68 per unit month for management$150 for lease renewal$500 in reserve per unit for emergency repairs (this will add up on a multifamily not sure how I feel about that)$75 in person service12.5% for renovation projects and repairs20% upcharge on evictions last one was ($560 total)Thanks in advance for your help it means a lot!
22 September 2024 | 13 replies
It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.
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21 September 2024 | 69 replies
The BRRR is one of the most complex investing strategies that exist.
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22 September 2024 | 8 replies
One word - EQUITYPARTNERIF the properties are in “good” condition $50k should be plenty in reserve.
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21 September 2024 | 71 replies
One hurricane, one downturn, one localized series of job losses, and the house of cards falls.
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16 September 2024 | 6 replies
Check out BiggerPockets PM finder above and see if there is a good match for you https://www.biggerpockets.com/business/finder/property-manag...
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21 September 2024 | 1 reply
Using a VA loan for a second property, where I’d move in and rent out my current home.When I made an offer on a fixer-upper (I didn’t win that bid), the loan officer mentioned it might be difficult to convince the underwriter why I’d need another VA loan for a second property in the same area, especially since the new home is almost identical to my current one (same size, age, school district, etc.).
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21 September 2024 | 10 replies
One of my cabin's is up on a knob off a mountain in the Smokies so different environment than you but the issues are probably the same and they all revolve around winter, albeit I am guessing yours will be much worse than ours.Mild scenario is where guest are at the cabin and a snow/ice storm hits while they are at the cabin.