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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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8 January 2025 | 7 replies
.)- All in Cost = Cost to build * Square foot - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost accounts for agent fees and closing cost- Initial List Price = Sales price + 10% A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.
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10 February 2025 | 59 replies
As I suggested, if you believe your identity had been stolen, please file a police report and we can utilize that to help convince the carrier to make a full refund cancellation request.I'm very sorry you decided you didn't want the policy after all, and in fact, Obie covered some of the fees from your pro-rated cancellation so we could at least always put the customer first--even in this situation.
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14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000 youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software
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10 January 2025 | 6 replies
HELOCs are usually variable rate and there may be yearly fees associated with maintaining the HELOC.
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11 January 2025 | 9 replies
Next, I tend to recommend that clients stay away from inflated HOA fees.
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7 January 2025 | 8 replies
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?
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29 January 2025 | 32 replies
(And no, the "acquisition fee" or carried interest at the end of the investment are ******** answers to "most of my net worth is in the deal").When the investor, whether it's a 27 year old putting their first $50K or $100K into something, or a 45 year old worth $15M putting $9M into their business idea, goes all-in, that's when my ears perk up.
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6 January 2025 | 5 replies
as is prop value 75k and minimum loan size of 50k. as long as its turn key 30 year fixed is available. yes there are some fees and rate will be a touch higher. if it cash flows get it closed.
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12 January 2025 | 11 replies
For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.