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18 March 2020 | 8 replies
It leads to deals but it's unpredictable and you are dependent on others, thus not in control.
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17 March 2020 | 13 replies
We are nor panicking instead trying to think though some scenarios and communicate/plan on paper . 1.Ownership:1.Create a “Medial Power of Attorney” to take over decision control if any/all owners get sick 2.Communicate ownership delegation with property manager2.Property Manager/Other Employees:1.Communicate CDC requirements 2.Outline and agree upon rent collection work process if city were to shut down 3.Outline and communicate a call tree identifying repair personnel 3.Safety:1.For employees: Release funds to buy protective gear while working within premise 2.For tenants: Communicate 2 times a week with CDC requirement as COVID19 is a REPDI development 3.For Owner: Identify all elderly tenants and communicate with them to call CDC if they would show any sign4.For Owner: Identify companies who does preventive medical grade clearing if any cases to be identified within premise. 4.Insurance :1.Confirm with current insurance to avoid and potential liability from owner to tenant negligence perspective 5.Operations:1.Review plan for marketing to get tenants if people were to leave during outbreak 2.Review plan for eviction during shutdown (if any) 3.Review cash position: 10 months cash supply covering 10 month of debt payment .
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25 March 2020 | 14 replies
@James De StefanoI set up the LLC last year so I can not compare.
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13 March 2020 | 2 replies
It's about the numbers you need the following info to get a Rental Property Cash Flow Analysis Property Management Fees Repairs and Maintenance Real Estate Taxes Rental Property Insurance Homeowners/Property Association Fees Replacement Reserve Utilities - Water and Sewer - Gas and Electricity - Garbage - Cable, Phone, Internet Pest Control Accounting and Legal Advertising Actual Purchase Price Down Payment Loan Amount Acquisition Costs and Loan Fees Length of Mortgage (years) Annual Interest Rate
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14 March 2020 | 13 replies
I've used an SD IRA advisory firm in the past to setup my "checkbook control" IRA that I use to invest in multifamily syndications as a limited partner.
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13 March 2020 | 1 reply
At that time, the trust's beneficiaries inherit a de facto share of the LLC.
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13 March 2020 | 1 reply
I am very motivated to get started because the market in Delaware is currently very dry.
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23 March 2020 | 2 replies
I don't think the minimum wage increase will effect rental increases either, NJ is a very tenant friendly state and many of the D class areas are rent controlled.
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10 April 2020 | 27 replies
In quality control this is know as a fail/pass test as opposed to a quanititative or qualitative test, which tend to be a lot more complicated and are usually done by engineers and then benchmarked against tolerances.
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14 April 2020 | 63 replies
Like I said above, let's just pause, do what we can do for damage control.