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1 June 2017 | 4 replies
Here is my piece of advice as I'm starting to go through these groups almost all of them have an angle.
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3 June 2017 | 1 reply
This involves: Providing capital in a timely manner for pre-approved deals.Ownership is allocated in the following way: The asset manager owns 20% of each property.The other 80% is owned by those who provide the financing for the deal, with no distinction between leverage and cash.Partner’s percentage of interest in the company is the net percentage of capital contributed across all properties, multiplied by 0.80.When new assets are added to the company, percentage of ownership is recalculated.If cash infusions are required for major improvements not covered by reserves, we recalculate percentage.Distributions are paid quarterly based on profits, on the 1st of the month, based on a percentage of ownership.Now here comes the question: If I cash-out refi the property, is that my capital contribution, or his?
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5 June 2017 | 13 replies
It will be pricey and I don't know that it will have a distinct (measurable) impact on the rents.
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6 June 2017 | 11 replies
The costs can be high especially if you are using a full service management company, and while changing, the Tahoe area still has two distinct busy seasons, meaning 2-4 months of slow time where you may not cash flow.
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9 July 2017 | 11 replies
If the mold has traveled to the back of the drywall, try to wrap that in plastic as much as possible before you remove the piece.Once you've got the piece removed, wrap it in more painter's plastic, then put it in a couple layers of trash bag before disposing.
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17 June 2017 | 6 replies
One of my favorites is sending out of town landlords pictures of their house, especially if a tenant is trashing it, and asking if they knew what was going on and if I can do anything to help.Lots more possibilities, but that's the most efficient path to DFD that we've found.Vacation Rental SoftwareYour Porter Monica Liu said, “Since you are eager to manage your business on your own I can recommend you to use a tool to get things done with a little piece of software on your smartphone.For my STR business, I have been using an app called Your Porter.
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20 June 2017 | 3 replies
Vacation Rental SoftwareYour Porter Monica Liu said, “Since you are eager to manage your business on your own I can recommend you to use a tool to get things done with a little piece of software on your smartphone.For my STR business, I have been using an app called Your Porter.
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23 March 2021 | 50 replies
But the point I was making is what you are discussing is simply investing with a partner with each of you doing different pieces to make it happen.
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26 June 2017 | 5 replies
Two last pieces of advice:1) Hire the best PM's possible and make sure you have regular meetings with them.2) Make sure you have the best tenants possible - know your PM's tenant screening methods.
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26 June 2017 | 69 replies
My wife and I worked our tails off for many years and sacrificed on many things and I can distinctly remember thinking at times if it was all worth it.