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5 January 2022 | 1 reply
What software did you decided on to handle the rent collection and accounting of the storage units if you don't mind my asking?
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12 January 2022 | 4 replies
Typically management is about 4% of gross collected annual revenue and sometimes 5%.
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5 January 2022 | 8 replies
No problem, here are numbers off the top of my head that I think are applicable.Address: 1823 Madison Way, Lynnwood WA 98087Purchase price - $583,000 (May 26 2021)Down payment - 10%Interest rate - 2.9% - 30 yearMortgage payment - $2800Rent collected from tenant - $2,000Stock Portfolio Line of Credit -$133,000Interest rate on line of credit - 4% (not a fixed rate and no fixed payment schedule)Last month my real estate agent ran some numbers and comps and thought $750,000 was what it might appraise for if we re-financed.
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9 January 2022 | 6 replies
Them selling isn't as easy as collecting a check and deep down they want to have the piece of mind that whoever buys isn't going to treat the house poorly or anger the neighbors.
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6 January 2022 | 4 replies
I was going to collect a Deposit to Hold for 14 days for the person who doesn't need the unit until Feb. 1st, but then charge a pro-rated rent for the 10 days beyond that 14-day period.
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5 January 2022 | 1 reply
It takes a ton of NO's to find wholesaling YES's that want to sell their house for a heavy discount to a "cash buyer" with no proof of funds and no true intention to close on the deal themselves.
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6 January 2022 | 1 reply
Do you use a software/system with your property manager to keep track of all rent collected, capital spent on repairs, and more to stay organized?
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5 January 2022 | 2 replies
They also said they could show me proof with Quickbooks?
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8 January 2022 | 8 replies
You keep the house, hire a manager, collect $3350/mo and pay $2200 in PITI.
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7 January 2022 | 9 replies
The state determines what taxes are collected.