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21 February 2025 | 4 replies
Be sure to factor in contingencies for unexpected costs during the rehab process and maintain a realistic cash reserve for property management and maintenance.
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23 February 2025 | 10 replies
These are always hard issues for managers.
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14 January 2025 | 7 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
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23 February 2025 | 16 replies
Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.
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4 February 2025 | 2 replies
Unit was rented by some one who was the manager for a about a year and then gave over managing to me.
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6 February 2025 | 4 replies
Study what kind of properties sell, for how much, and what kind of tenants live there.Think with a 10year+ vision, but a decently sound property (not a 1900 single family conversion that is begging for a full gut rehab), and but in the RIGHT location.
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6 February 2025 | 7 replies
There are online platforms like Rentable.com that will handle opening the correct accounts / all compliance tasks related to managing deposits
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8 February 2025 | 6 replies
How valuable is this location in that market?
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28 January 2025 | 3 replies
I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra.
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5 February 2025 | 5 replies
Sounds like you’ve got a solid foundation with your GC and project management experience.