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15 January 2025 | 15 replies
Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..
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11 January 2025 | 11 replies
Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.
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3 January 2025 | 5 replies
On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.
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6 January 2025 | 6 replies
Even a brief consultation can clarify your legal standing and provide additional strategies tailored to Raleigh’s market.Have you considered asking other local landlords how they’ve handled early lease terminations?
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9 January 2025 | 11 replies
Additionally, most of the costs to make an asset ready for it's intended business use are capitalized and part of the cost of the asset.
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8 January 2025 | 9 replies
feel free to @ me for any additional info.
31 December 2024 | 10 replies
Quote from @Kyle Schachsieck: Thank you all for the information and additional resources!
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31 January 2025 | 29 replies
I'm assuming architect fees, GC fees, Real Estate commissions, and of course interest on your loan ... but just curious as we haven't really dealt with any of those additional costs for our builds. 3) What market are you in and how is the market doing overall?
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6 January 2025 | 7 replies
This will provide you experience, a story to tell, and the credibility needed for adding additional clients.I'm happy to discuss more.
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1 January 2025 | 12 replies
If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.