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28 May 2024 | 11 replies
Hello Jerome, If you buy a BP pro membership you get free access to rentredi, a property management software that does have the features you seem to be looking for.
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28 May 2024 | 5 replies
For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.
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25 May 2024 | 4 replies
Looking to connect with Property Management Companies that service properties in Columbus, Ohio and/or central Ohio areas.
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25 May 2024 | 2 replies
Hello, I have a vacation rental property management business and I have a question regarding deposits into a bank account.
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28 May 2024 | 7 replies
It may be working for another developer would have the most value, or a GC, Project Manager, etc.
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28 May 2024 | 28 replies
Would you lend your own money to someone that is planning to buy an investment property, but has no experience managing one?
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25 May 2024 | 1 reply
To provide some context, she initially approached our company to manage her HOA.
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28 May 2024 | 15 replies
Build a Strong Team:Surround yourself with a reliable team, including a real estate agent, contractor, property manager, and accountant.
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28 May 2024 | 6 replies
I have been working with investors, wholesalers and realtors for the past 3 years providing different services for them like list generation, cold calling, lead management and closing.
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29 May 2024 | 12 replies
That interpretation may be the policy and what Senior management are directing, but being clearly specified in the code vs. a policy/interpretation can have two different ways of resolving it.