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Results (10,000+)
Engelo Rumora ATTENTION PROPERTY MANAGERS ‼️ I Need Your Help
1 August 2024 | 71 replies
G'Day everyone,The team (@Dominique Osborn, @Sean Mahoney) and myself have an opportunity to on-board 189 units.This would be a very nice "chunk" of new business but to be honest, I'm inclined to pass.I have always believed in doing business on your terms and for terms not to be dictated by someone else.Especially when you are looking to hire us/me to do the work for you.Also, business done right needs to be a win/win for all involved and this doesn't seem like a win for us.I do however understand the caution and reluctancy to "let go of the reigns" per se as many landlords get screwed by property managers.But at the end of the day, you have to "let go" and let someone else do it or just do it all yourself.I'd love your advice on the suggested terms given to us below:1) In AppFolio they want admin level access to their account.2) They want a standardized list for maintenance items so they know in advance what repairs would cost.3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $3006) They want tiered PM Fees based on occupancy.... for example (their example): at 90% they would pay 8% PM fees, at 70% occupancy they would pay 2% PM Fees, and at 50% occupancy we would part ways.The deal breaker in my opinion is points 4, 5 and 6.With the lack of oversight/control on maintenance we have little control over the occupancy and it kills our process and efficiency.So in a way, we are destined to fail from day 1.Also, if someone does want so much control why not just self manage.The unit count justifies hiring 1-2 full time people to run it.Otherwise, let us do our job.
Takahito Torimoto What are my best options TODAY to get and use EQUITY out of my properties?
2 August 2024 | 7 replies
(https://learn.lofty.ai/en/articles/7025226-sell-equity-in-yo...)I understand I can also sell and do a 1031 - I've successfully done that once, and failed a second time (could not win an offer and ran out of time - had to pay a ton of capital gains tax). 
Albert A. Is House Hacking in California feasible with traditional financing?
2 August 2024 | 15 replies
However, if the net negative cash flow is less that the rent you are paying, it's still a win.
Blake Crawford Hotel casino purchase
2 August 2024 | 29 replies
Let the prize be a SFM or MF, and there's an old saying "the house always win" :)
Daniel Church Foreclosure live and flip
1 August 2024 | 2 replies
Learned a lot and made money so it was a win.
Danny Celestin Should I Buy the Rate Down
3 August 2024 | 19 replies
If Trump wins the election, he will undoubtedly push to get rates as low as possible as fast as possible (for better or worse).
Nick L. My failure at the Milwaukee County Sheriff's Sale
31 July 2024 | 27 replies
Or does the process specifically require that you close with the cash that you prove you have when you win the bid?
Ralph E. Has anyone ever made any money by partnering with Charter Financial?
1 August 2024 | 22 replies
I wanted to know if anyone has had sucess, or has heard of anyone who has been successful by partnering with Charter Financial to buy discounted notes, lottery winnings, etc?
Takahito Torimoto Questions on Section 121 Exclusion for Primary Residence and Capital Gains Tax
31 July 2024 | 5 replies
i.e. if I sell my Primary in January 2025, and I cannot find a replacement Primary to purchase (or cannot win any offers) - can I stay with a family member - until I am able to find AND win an offer on a replacement Primary residence?