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22 July 2020 | 2 replies
(Four rentals in the medium term PLUS house hacking our way into free housing, freeing up additional money to invest each month) I have home office work sessions where I contemporaneously log all my real estate activities, do the bookkeeping and keep all the filing organized (physically/virtually), communicate with relevant parties like lenders, subcontractors, agents, etc.
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30 June 2020 | 2 replies
We don't pay for the utilities, cable, internet, or alarm system.
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1 July 2020 | 3 replies
We don't pay for the utilities, cable, internet, or alarm system.
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1 July 2020 | 9 replies
So if an amenity you offer - hot tub, pool, pool table, cable tv, etc, is out of commission, you offer a refund?
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1 July 2020 | 3 replies
But you'd probably still want some kind of paper trail documenting the issues and communicating your concerns and reasons for moving to your lender (or, the opposite approach would be to not tell them a thing and hope you don't get caught - which I'm certainly not advocating).Ultimately, they need to believe and verify that moving early wasn't your intent all along, just to try and circumvent the FHA requirements (which would essentially be defrauding the government and using up a finite resource intended to promote home ownership in the US); Giving you an FHA loan could ultimately mean that some other family was unable to get one.
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5 July 2020 | 31 replies
@Jeff Kennedy, @Michael Barnhart and anyone else who would like to see more specific data, here is my current monthly numbers: Rental Income $8,621.00 Utility Bill-back $275.00 Other Income (pet, storage, cafeteria, late fees, laundry) $505.00 Total Income $9,401.00 Commissions -$752.08 Leasing Commission Electric -$634.04 Gas -$364.26 Water -$605.82 Internet/Cable -$343.07 Trash -$76.75 Cleaning -$91.81 Lawn/Snow -$196.11 Maintenance -$295.17 Legal $0.00 Property Taxes -$1,022.35 Insurance -$203.92 Total Expenses -$4,585.38 48.78% NOI $4,815.62 Mortgage -$1,526.51 Cash Flow $3,289.11
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10 July 2020 | 7 replies
I've been told by many people that I need to improve my communication skills.
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23 April 2021 | 28 replies
A good Professional PM is going to stay on top of these constantly changing Executive Orders, constantly in communication with other PM's dealing with similar problems.
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17 September 2020 | 5 replies
I am concerned about the tenant and appraiser communicating/agreeing on a day/time and the tenant not wanting a person in their home with covid.
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2 July 2020 | 6 replies
Personally I've chosen to get started with direct mail and a very basic website, but mostly only to put on the letters I mail out so sellers have another avenue of communication.