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2 July 2024 | 73 replies
Ask your manager what type of systems he or she has for vetting guests.Does the Airbnb manager participate in a “bad guest” scheme?
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2 July 2024 | 26 replies
We removed 4 walks (including load baring), installed 2 walls, added half bath, replaced all plumbing and electrical, added new eye brow porch, painted full exterior (changed color), replaced all flooring, new bathroom and kitchen layout with everything replaced (shower, cabinets/vanity, counter, appliances, etc), stocked with new furniture, added mini split, removed gas/wood fireplace and added a new electrical fireplace, and placed initial STR tenant in 2 months and 1 week.
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30 June 2024 | 9 replies
Too funny.This will now be my standard response to these worthless, "I'm looking for my participation trophy" posts!
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30 June 2024 | 7 replies
Also participation mortgages were popular.
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1 July 2024 | 7 replies
If you need structured education, coaching and guidance to do that, then I would argue there is tremendous value to participate in a program like the Academy that aligns with your goals.
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29 June 2024 | 8 replies
By subdividing, this would barely affect my current property value for the home.how should I approach speaking to the mortgage company about this and what are my potential options.Thank you to anyone who has any experience on this topic.
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1 July 2024 | 58 replies
Most were from people who could barely put a sentence together and listing their whole life sob story.
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26 June 2024 | 14 replies
But you also have to track your material participation time in your property(s) if you're trying to qualify to use your real estate tax loss to offset your other income.
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29 June 2024 | 27 replies
You can barely tell if the lines aren’t perfect.
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27 June 2024 | 3 replies
Hiring a Manager: Decide whether you'll manage the property yourself or hire a property management company.Tenant Screening: Develop a tenant screening process to find reliable renters who meet your criteria.Legal and Tax Considerations:Legal Structure: Consider forming an LLC or another legal entity to protect your personal assets.Tax Implications: Understand tax deductions available for rental properties, including mortgage interest, property taxes, and depreciation.Networking and Education:Real Estate Forums: Participate in forums like this one to learn from experienced investors and ask questions.Local Real Estate Groups: Join local investor meetups or associations to network with professionals in your area.Continued Learning: Attend seminars, webinars, or workshops to stay informed about real estate investing strategies and market updates.Starting with a rental property while keeping your condo as an investment is a great way to begin building wealth through real estate.