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8 October 2020 | 3 replies
However, if you only live 1 or 2 hours drive from the property, try to still manage it yourself so you can pocket the management fees.
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7 June 2018 | 4 replies
For the moment everything assumes 100% financing)* Repairs (default is $2000)* Vacancy (default is 10%)I also make sure to include HOAs, management fees (which vary based on property type), and insurance (which also vary based on property type, and are just estimates).The list is up to date as of this evening (June 6th), but it's static so it won't be updated unless I update it.
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7 June 2018 | 13 replies
Not really because I found out that, after the real estate agency's 5% fee (30K), I will have to pay around 30% in capital gain taxes which comes up to a whopping 96K.
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21 October 2018 | 14 replies
I do not think this was a major strategy killer, but the house sat empty during peak rental time (Summer before school started) and is still vacant at a price above Proforma.Some Observations: Closing costs came out to be much higher than the proforma estimateTaxes were spot onProperty Mgmt. fee spot onThe vacancy is listed at 4%, even though PM says I takes an average of 45 days to rent, so it’s a broad average I’m assuming after tenant leases or across all their properties.They advertise 2-year leases during the tour and most turnkeys are rented prior to closing, not the case for my property, still vacantOne inquiry has come in for a family whose house burned down, but they want 3-month lease smack in the middle of winter for another renewal, not optimalNeither the marketing department nor PM inside Reedy was very proactive as far as communication.
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11 December 2018 | 2 replies
If we sell in the spring we’ll prob lose around 60k in realtor fees
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8 August 2018 | 13 replies
How about refi that house and rent it out to make sure its cashflow, then use the refi money (plus maybe your company gives you relocation fee?)
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7 June 2018 | 0 replies
Hi, What does everyone do in the calculators for PM fees, CapX fees, Maintenance etc?
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10 June 2018 | 6 replies
Ok here's the link:https://www.biggerpockets.com/forums/521/topics/57...There's also a website you can go to for the REIAs, here's salt lake city's:https://slreia.comAnd the Utah one:https://www.utahreia.orgI think the REIAs have a membership fee though, but I haven't been to one yet so don't quote me on that.
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12 June 2018 | 13 replies
Brian Kraft I think what you have to start with is variables that you know: what they rent out for today, property taxes, vacancy for the area, insurance, PM fees, etc.