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17 December 2020 | 14 replies
Try to be specific about the goals (# of properties, # of doors, cash-on-cash return, monthly cashflow, "X" # of employees, etc.)
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15 December 2020 | 11 replies
@Leon Lee, as @Dave Foster mentions, the QI being strict is them following the IRS rules.
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14 December 2020 | 1 reply
Come April, that same industry employed 728,000 people dropping 60% month-to-month.(4)The following month you saw a positive 13.8% month-to-month gain in employment, or 866,600 now employed Hospitality & Leisure employees. (4)But, despite these signs of a comeback we will finish 2020 with a higher than healthy unemployment rate, and a partially opened and struggling service industry.Predictions on when we will back to normal hinge on the vaccine availability and how quickly people get vaccinated.Final ThoughtsAfter reviewing this information it’s easy to see how much the Hospitality & Leisure industry needs help, and supporting them through gift cards or donations will help prop them up until we can officially re-open everything.Speculations on how long until full recovery are modest for Texas — two to three quarters — while the rest of the U.S. could be seeing at least three years of down economic times. (2)ReferencesDallas Fed; “Your Texas Economy” — https://www.dallasfed.org/-/media/Documents/research/econdata/texaseconomy.pdfMark Sprague, State Director of Information Capital presentation — available on requestPWC & ULI: “Emerging Trends in Real Estate” — https://ulidigitalmarketing.blob.core.windows.net/emergingtrendspdfs/ET2020FallMeeting.pdfDallas Fed: Leisure & Hospitality — https://www.dallasfed.org/research/econdata/ausleiha.aspxDallas Fed: Texas Employment — https://www.bls.gov/eag/eag.tx.htmElise Gould: Quote — https://www.fastcompany.com/90549147/forget-u-or-v-or-w-we-may-be-headed-toward-a-k-shaped-recovery
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4 January 2021 | 6 replies
Thanks @Dave Foster.
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30 December 2020 | 15 replies
UtahAmericafirst 80% LTV on noo 65% LTV UtahArvest Bank AR, OK, AL, MO Bank of West (BNP Paribas) 60% LTV ELOCs BB&T will loan on a rental portfolioBBVA Compass Bellwether NH and MA 85% to 100%, draw 10 yrsBoeing employee credit union California: Cal Coast Credit Union and Fremont BankCitizens Bank -Minnesota, only in-state.
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17 December 2020 | 5 replies
What is a good ratio between number of properties managed to number of employees?
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15 December 2020 | 1 reply
-Daily maintenance issues and cap-x - Being on top of all workers - Creating a schedule and making sure they stay on top of it.Being on top of super -Being on top of maintenance crew -Being on top of a potential manager hire -Payroll and paying anyone/ Sending out checks to employees or contractors (separate from paying general bills).
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17 December 2020 | 3 replies
Thank you @Dave Foster and @Bill Exeter.
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16 December 2020 | 3 replies
if you have a manager for your crew then you can create a check-in check-out sheet that needs to be used daily. and whoever loses the item depending on the value either has to replace, repay, or lose their job this has many downfalls, like maybe someone signs for the item and someone else takes it, theirs no way of knowing that, again it's part of the business and you should never work with low-quality employees might be cheap at that moment but will cost you greatly in the long run. hope this helped have a blessed day
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18 December 2020 | 7 replies
I've been encouraged to foster a relationship with a small regional bank so I can be privy to their note tapes.