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10 August 2024 | 11 replies
Paying a plumber extra for an off hours call runs your bill up.
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13 August 2024 | 3 replies
Start sending your sesume to all the big commercial PMCs in your area.You could also try residential PMCs, but they typically pay less.
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14 August 2024 | 6 replies
And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.
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10 August 2024 | 8 replies
Here is what I proposed:Setup fees : Administration Setup:One Time Fee: $400Guidebook: Using professional photos give the guests a professional tour of the house and how the home works (Wifi passwords // How to use grill // How to use propane fireplace // Hot tub instructions // Sauna instructions //Check in and check out instructions //where extras may be storedOTA (Online Travel Agency) setups: taking professional photos and actively updating your listing on popular platforms;PMS (Property Management System) Setup Smart Pricing Set upWebsite integrationOther (furniture arrangement / design / décor shopping and set up) $50 per hour· Placement fees · Marketing Cost: Variable depending on needs/wants for marketingFacebook AdsGoogle Ads Cleaners: Set up procedures/take pics of expectations· Management fee—30%Guest communicationCleaner communicationSetting Rental rateDealing with small maintenance issuesBooking CoordinationSmart Lock integrationKeeping supplies stocked (TP, paper towel, all cleaning products, coffee, filters, creamer, sugars, teas,)(Receipts would be submitted on a monthly basis for either reimbursement or book keeping purposes)Encouraging guests to leave good reviews by periodically checking in, providing a review template, and ensuring guests receive the amenities they are looking forContinued marketingMajor Maintenance fees—OwnerCleaning and laundry services fees: Cleaning fee to the guest depending on how cleaner wants to charge
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13 August 2024 | 5 replies
While that is in the works I’d like to reach out and start networking with locals and get in to the wholesale game.
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15 August 2024 | 16 replies
One deal is just the start, with 1 or 2 properties there will be more highs and lows, but once you acquire a handful or more then things even out.
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14 August 2024 | 6 replies
Might be worth just starting with Quickbooks if you plan to use it for other properties beyond your commercial property.
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13 August 2024 | 2 replies
Hi all, I'm getting started with mid-term rentals (~60 days) and trying to understand how the Pinellas county transient and Florida lodging taxes work.
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14 August 2024 | 1 reply
But you use the calendar and the cases provided on the calendar to look up the foreclosure on the county clerk's website to start to get an understanding of who is suing, and what is owed on the property.Who is foreclosing is key to understanding foreclosures.
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15 August 2024 | 18 replies
We are considering adding a roll under each sink to eliminate this request/complaint but thought it was odd after years of doing the same thing why we all the sudden had people complaining about only having one full roll to start?