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21 May 2024 | 4 replies
Check the market and rental demand to avoid empty units.
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20 May 2024 | 10 replies
I believe that starting out, you would need to find an investor lawyer and accountant to help you set up the legal entities in both countries, then research your market, find financing, build a team, and so on.
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20 May 2024 | 4 replies
Start depositing all income into one bank account, a bank statement loan may work for you.
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19 May 2024 | 11 replies
I would change my tone with the old contractor and notice him in writing he's not welcome back to the property and you are looking into option to hold him accountable.
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20 May 2024 | 1 reply
on $166K you can get 5+% in a savings account.
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18 May 2024 | 2 replies
Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.
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21 May 2024 | 13 replies
Airbnb Considerations:For Airbnb, make sure to check local regulations in Tampa regarding short-term rentals.
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19 May 2024 | 6 replies
Our version is available even now for download on our old Towne Square HOA account, (mgmt thru 2020, I think).
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20 May 2024 | 8 replies
@Ronald Benson Yes, you have to make sure it is the first mtg foreclosing….not a second mtg or hoa, and check for back taxes, etc.
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20 May 2024 | 4 replies
Check to see if there are any purchase + rehab options.