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30 May 2021 | 12 replies
@Brie Schmidt Not sure if Brie's office will do this.. but that is a group of very experienced investors/Brokers.
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5 June 2021 | 3 replies
@Paul Kuhn I use The Law Office of Jenny L Colon, P.C. for my RE attorney needs, and Zukerman & Associates for CPA/taxes.
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24 May 2021 | 0 replies
I have a regular day job as a tax CPA at an accounting firm, so even though we are 100% remote right now, there is a chance I have to stay near Manhattan so that I can commute to the office 2-3x a week.
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31 May 2021 | 34 replies
Have you considered other commercial property, such as office, retail, or industrial space?
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24 May 2021 | 2 replies
Do you rent out an office?
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16 August 2021 | 15 replies
I had a good and long conversation with a loan officer recently trying to get a luxury loan to get an RV.
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5 June 2021 | 5 replies
Something akin to a house.I'd talk to a few local loan officers.
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20 June 2021 | 1 reply
When you say commercial RE are you referring to commercial as in office/retail types of buildings or multi family thg will require commercial financing?
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28 May 2021 | 6 replies
So, they won’t work with us.We’ve also learned that contractors usually fall into one of the following categories:Type 1 (High Quality, High Price)They can do new construction, additions, full remodeling, but maintenance work is too small for them.Typically pay for advertising, have sales staff, separate bid preparers, inhouse designers, full office support.Equates to a lot of overhead, leading to markups of 50%+.Bids: Usually have a dedicated salesman that does their bids, so able to supply quality bids.Comment: Usually have the highest prices & quality, and so these are the contractors you’d hire to work on your own home.
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26 May 2021 | 9 replies
They only look at their back of the napkin calculations of what they pay a PMC, assuming it's 100% profit, because they NEVER consider what expenses a PMC has.Since you like to crunch numbers, why don't you calculate how much it would cost for YOU to hire people to do the following:Inspect a property to make sure it's ready to marketTake marketing picsPublish and refresh for rent adsTake all the phone calls from adsSchedule showingsChase applications, process & screenGet deposits and sign leasesCollect rents, chase delinquencies & evictionsHandle maintenance requests, which are never handled fast enough for tenants, or cheap enough for ownersChase tenants for lease renewalsCoordinate MoveOuts, damage charges against security depositsGet RentReady bids to owner's satisfactionFollow up with maintenance to make sure done on time and done rightStart the cycle all over againProvide accounting services for all of the above, including owner reports and payments, annual 1099's, etc.Don't forget to factor in payroll taxes, employee benefits, company office space cost, company insurance, equipment, phones, etc.Once you do all that, you'll quickly find that PMC's are NOT making more than owners.FYI - this is why investors should always factor in 10% PMC Fees, 10% Vacancy and 10% Maintenance when running numbers on a potential rental purchase.