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19 November 2024 | 6 replies
Then, if you believe he made a mistake, come back here for a second opinion.Just one comment: you cannot carry anything back.
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20 November 2024 | 9 replies
Study landlord basics, especially on what to include in your lease (going forward you will ALWAYS have a written lease).(2.5 Learn from mistakes and don't repeat them.)
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18 November 2024 | 1 reply
Since I'm the sole member of the LLC is there anything I need to be concerned about or consequences if I make a mistake?
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18 November 2024 | 12 replies
One mistake could extend the tenant's stay for months without any income, not to mention the stress it could cause.
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20 November 2024 | 4 replies
It’s a reminder that in real estate, continuous learning and valuing experienced advice can save a lot of costly mistakes.
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18 November 2024 | 27 replies
@Andrea LeeRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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18 November 2024 | 9 replies
@Fernando CarloIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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15 November 2024 | 12 replies
Eliminate debt, establish a budget, and save.
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17 November 2024 | 1 reply
Donate the Property: Donating the property to a qualified charitable organization can provide you with a charitable deduction equal to the property’s fair market value and eliminate capital gains taxes.Implementing these strategies requires careful planning and consideration of your specific financial situation.