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7 May 2024 | 6 replies
Always request examples of prior work to gauge the quality they deliver.Insurance agents are often overlooked but are integral to safeguarding your investments.
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7 May 2024 | 6 replies
If they don't trust me, they will cut corners another way and the quality of the calls will be terrible.
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6 May 2024 | 5 replies
The W-7 form may look easy to complete, but we highly recommend finding a certified agent to handle it.
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6 May 2024 | 5 replies
I remember back in the day I could pretty easily find deals on the MLS that weren't in high crime areas, where the numbers really made sense.
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9 May 2024 | 107 replies
Any advice to find better deals or get high cash flow?
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8 May 2024 | 4 replies
If this was your primary residence, I would highly recommend selling within 3 years of converting to a rental to maintain the section 121 tax free gain on sale of a primary residence (250k exclusion for single and 500k married).
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8 May 2024 | 0 replies
Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.
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8 May 2024 | 4 replies
This may be able to work if the ADUs can be added at a low enough cost that the NOI and cap rate provides a value high enough to justify the effort and risk.
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8 May 2024 | 10 replies
South Tampa, including Hyde Park and Palma Ceia, remains a top choice with its high-end homes and excellent schools.
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7 May 2024 | 16 replies
We've heard offhand both on this website and from others in RE that accounting/bookkeeping firms in India, which cater specifically to small businesses in America, are relatively inexpensive and pretty reliable.