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30 May 2024 | 13 replies
Additionally, if you choose to occupy your rental property, and need to get tenants to move out, you'll likely need to Ellis Act the property which you'll need to pay tenants upwards of $35k+ per person to relocate and will eliminate your ability to use it as a rental for up to 10 years.
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28 May 2024 | 5 replies
Compile a punch list of any incomplete or unsatisfactory work, and ensure the contractor resolves all issues before making the final payment.Obtain and retain copies of all inspection reports and permits for your records.Collect warranties for any new appliances, systems, or major components that have been installed.Provide feedback to the contractor on their performance, which can be beneficial for future projects and maintaining a good relationship.
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29 May 2024 | 6 replies
However, interest on the same debt used to pay personal living expenses, such as credit card debts, is not deductible.But, wait there's more...
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28 May 2024 | 8 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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29 May 2024 | 2 replies
Personally, I analyze the residential units as guaranteed income and don't look at the commercial space at all.
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30 May 2024 | 8 replies
In my personal opinion this is a very small issue that can be easily handled in a Saturday afternoon Congrats on having 2 rentals in this market!
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29 May 2024 | 5 replies
Great question 1) tenant is a serial killer (or similar 2) tenant is psycho and tries to sue me personally thinking I may settle and avoid litigation fees.
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29 May 2024 | 2 replies
If the trust is what is called a "disregarded entity" (meaning it does not have it's own TIN and does not file a tax return) then the activity of that property is reported on your personal tax return.
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29 May 2024 | 36 replies
The Dominican Republic can be a great place to invest but, personally, Punta Cana would be the last place I'd invest in.Two years ago, during a meeting I had at the Ministry of Tourism in Santo Domingo, one of the head honchos there clearly told me "If I were you, I wouldn't invest in Punta Cana".
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29 May 2024 | 15 replies
Rentredi is also a popular one (paid service) but I can't give my personal experience on that.