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25 February 2024 | 2 replies
An STR ain't going to be successful if you can't actually operate it.
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25 February 2024 | 5 replies
CRM Software with Customization OptionsCRM (Customer Relationship Management) software like Salesforce or Zoho CRM can be customized to track deal details, including financials, though it's not their primary function.Pros:Highly customizable and can be tailored to fit a wide range of data tracking needs.Good for managing relationships with lenders, partners, and tenants.Cons:Requires setup and possibly custom development, which can be costly.May be more complex than necessary for straightforward property management.Recommendation:The best choice depends on your specific needs:If you're comfortable with spreadsheets and have a relatively small portfolio, starting with Excel or Google Sheets might be the most cost-effective and straightforward approach.If financial management is your primary concern and you're willing to invest some time in setup, QuickBooks is a robust option.For a more comprehensive solution tailored to real estate investments, exploring specialized real estate investment software could provide the most benefits.If your operations involve significant relationship management and you need a highly customizable system, a CRM with customization might be the way to go.Before deciding, consider factors like cost, scalability, and the learning curve of new software.
25 February 2024 | 7 replies
All jokes aside, a good rule of thumb is that investor type hours do not count more so hours that are critical to daily operations.
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26 February 2024 | 17 replies
Sometimes HVAC contractors will jack up the prices in the winter because they are typically busier and/or they feel the homeowner might be a little more desperate to get the heat on than they would be in the spring/summer months.
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25 February 2024 | 4 replies
Did you ask the gas company what the typical bills have been costing?
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25 February 2024 | 2 replies
A cost segregation study may allow you to deduct $150k in depreciation expense in the tax year of acquisition.This would create a large tax loss (notably different than an actual operating loss).
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25 February 2024 | 8 replies
In Arlington (another suburb in DFW), you can operate STRs with a permit.
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27 February 2024 | 26 replies
Typically, they ask for an earnest deposit of $2500 or so on your CC.
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25 February 2024 | 6 replies
Typically I have seen results after sending several mailings to the same person.
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25 February 2024 | 7 replies
The process typically involves contacting your local public housing authority to get your property approved and then finding tenants who qualify for Section 8.