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6 March 2024 | 11 replies
Your question makes me want to check my state rules (Illinois), because I've thought many times that I might as well manage other people's STRs if I have all the processes set up to manage mine anyway.Finding a cleaning crew for 1 STR is difficult, but 5 is easy.
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5 March 2024 | 6 replies
In a recent post about how to minimize the taxes on rental income it was mentioned that: Setting aside reserves is an expense, so long as they are not excessive.
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6 March 2024 | 9 replies
Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.
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6 March 2024 | 4 replies
Do I need to set up an LLC?
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4 March 2024 | 11 replies
Each has its own set of considerations and potential benefits, so it's crucial to understand them thoroughly before diving in.
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5 March 2024 | 13 replies
If you want to buy 300k duplex and want to have class A tenants in fairmount, well you're out of luck and need to adjust your purchase price standards.
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6 March 2024 | 6 replies
I have used a basic registered agent service and set up an LLC.
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6 March 2024 | 5 replies
You can also set up online payments.
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7 March 2024 | 18 replies
It's not clear to me how setting up some new platform to get those who are "spinning their wheels" is going to improve their situation.