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4 March 2024 | 14 replies
I can provide you with insights and advice on how to get started.
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3 March 2024 | 2 replies
In this market, trying to extend them or be provided extra time may be difficult given this strong seller's market.Generally, yes it would be good if you have a "feel" or "inkling" of what it takes to repair/replace stuff.
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3 March 2024 | 2 replies
These numbers should be determined using a combination of the historical financial data available, feedback from your property management company, your business plan, and the property characteristics.Generally, you can expect per unit numbers like this:Repairs & Maintenance: $200 – $500 per unitAdministrative: $150 – $350 per unitUnit Turnover: $200 – $300 per unitContract Services: $200 – $500 per unitUtilities: $800 – $1,200 per unitAdvertising $100 – $300 per unitPayroll $1,000 – $1,600 per unit (very market specific)Insurance: (very market specific)RE Taxes: (very county specific)Again, these are very general per unit numbers but they should help provide you with guidance.
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3 March 2024 | 9 replies
For insurance I bet you could still get away with residential STR insurance, but be sure to ask your provider before and if they say get a commercial policy you probably should.
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3 March 2024 | 2 replies
Great question @Rachel ChioreanuA network of reliable vendors who provide quality work for a fair price is critical to our success as investors and managers.
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2 March 2024 | 5 replies
I don't think the name of the game is to provide a discount with the email.
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3 March 2024 | 6 replies
You can also consult with lenders, brokers and ask them for suggestions on who might be a good real estate mentor and most will be able to provide one.
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4 March 2024 | 34 replies
"Many states require an LLC to maintain certain records and provide that members have a right to inspect these records.
2 March 2024 | 4 replies
It's a lot less risky than fix & flip and provides great cash flow.
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2 March 2024 | 9 replies
I can listen to books and educate myself on whatever I want while at the gym, in the car, etc.I currently have 200+ books in my library and if you'd like any recommendations on a particular area of study, send me a message and I'd be happy to provide you with some.A couple I'd recommend that will give you a "crash course" are..Buy, Rehab, Rent, Refinance, Repeat - The BRRRR Rental Property Investment Strategy Made SimpleFLIP - How to Find, Fix, and Sell Houses for ProfitThe Book on Flipping Houses How to Buy, Rehab, and Resell Residential PropertiesThis book is not currently available on Audible but a must readThe Book on Estimating Rehab Costs - J ScottBigger Pockets has become one of my best resources.