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8 February 2025 | 3 replies
I downloaded the forms packet from the management section of bigger pockets and didn't see a template for an eviction notice.
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11 February 2025 | 4 replies
If you're a relatively new multifamily operator, you'll likely be required to hire a professional management company (inexperienced owners are typically not allowed to self manage the assets).
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29 January 2025 | 22 replies
Then you can self-manage and learn all about tenants, contractors, etc.
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18 February 2025 | 2 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.
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3 February 2025 | 1 reply
You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property.
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11 February 2025 | 10 replies
Quote from @Krishnan Iyer: Hey Tom, I use Stessa to manage all my income and expenses (bookkeeping) for all my properties.
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7 February 2025 | 14 replies
Quote from @LaShon Evans: I manage 400 rentals and own 33.
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22 January 2025 | 1 reply
Key Details of the 45L Tax Credit:The credit offers up to $2,000 per eligible unit for builders and developers of residential homes that meet specific energy efficiency criteria.To qualify, the units need to meet or exceed certain energy performance levels in comparison to the national model energy code (e.g., the 2006 or 2009 IECC — International Energy Conservation Code).Cost Considerations for a 90-unit or 112-unit Project:The actual cost of qualifying for the 45L tax credit depends on various factors, including:Energy Efficiency Compliance: The primary cost will come from ensuring that each unit meets the required energy efficiency standards, which typically involve energy modeling, certification from third-party energy raters, and potentially upgrading insulation, HVAC systems, windows, and other components of the building to meet the necessary performance levels.Energy Modeling: Typically, you'll need to pay for an energy consultant or engineer to model the building's energy performance and ensure it qualifies for the credit.
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11 February 2025 | 3 replies
When reaching out, it helps to offer value in return—think about tasks like checking on properties when they can't, delivering materials, finding reliable contractors, or even handling basic project management tasks.Building genuine relationships and showing you're willing to contribute will go a long way in earning their trust and gaining hands-on experience.
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15 February 2025 | 3 replies
Investment Info:Building a Fix and Flip/Wholesale Active Income Arm of Our Business.Routinely have 5-10 active flips/wholesale deals under management/in process.