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22 January 2025 | 9 replies
I used a property manager (before I was one) for (1) time & headache savings and (2) the value the property managers provide by economies of scale (marketing, discounts with vendors, etc.).
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17 January 2025 | 11 replies
Some high and lowlights:- I had one tenant that brought German cockroaches in and then blamed it on me- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people- another tenant having constant loud arguments with his gf- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm.
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16 January 2025 | 11 replies
Now 3 of the 5 taxing authorities give a credit for doing them on time which can be as high as $150 savings for me each month and I am not sure I would get that using Avalara.
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21 January 2025 | 4 replies
Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!
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6 January 2025 | 11 replies
Start with BiggerPockets Ultimate Beginners Guide (free).
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7 January 2025 | 8 replies
Start with BiggerPockets Ultimate Beginners Guide (free).
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15 January 2025 | 14 replies
Almost nobody in the Upper Peninsula has air conditioning though so maybe can save money on just doing a new furnace and not a full HVAC, we'll see.
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8 January 2025 | 38 replies
Ultimately, I know we have to pay.
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20 January 2025 | 7 replies
My general contractor told me to charge her a $400/month pet fee for four months –which would allow me to save up $1,600 to cover damages- and then give her 30 days notice in May when it will be warmer and faster to fill a unit.
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19 January 2025 | 7 replies
I do see how the knowledge could likely save me the equivalent in mistakes but none of us have a crystal ball.