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21 May 2024 | 4 replies
However, I would like to build connections and eventually start here in California.
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21 May 2024 | 11 replies
I told them that it was a better idea that, instead of buying a home first, we can buy an investment property and keep renting after we build some equity, sell it and put the down payment for 2 houses or a duplex and live in one and rent the other one (for me, i could keep renting until we buy a lot of investment properties and then move to one of them), but my family wants to buy a home firts and then the investment property.Can someone give me a light of what is better or the pros and cons.Thank you so much.
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21 May 2024 | 11 replies
I agree with Robert that it'll be a good idea to determine the type of build you'll want to pursue and also the locations where you'll get the best bang for your buck.
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22 May 2024 | 8 replies
The best way to get started here (or anywhere) is to start by purchasing your own primary home because it's easier to qualify for the loan and it gives you a chance to build equity and you can purchase more house with a lower down payment.
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22 May 2024 | 18 replies
Check your local building codes regarding what is required for an exit vent for one of these things.
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22 May 2024 | 0 replies
"Shadow-anchored," meaning the Target or Costco building isn't included with the purchase, but it shares a parking lot or similar.
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18 May 2024 | 2 replies
Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.
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21 May 2024 | 1 reply
Good afternoon Bigger Pockets Fam, my name is Jamall and I’m a newbie and I’m looking forward to networking, building, and adding value to the community.
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21 May 2024 | 7 replies
Thank you all for your reply 1) I don’t have insurance for this condo, because it building has master policy.
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21 May 2024 | 11 replies
You can never alter or build on wetlands nor use the land for anything other than recreation.