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20 November 2024 | 5 replies
The 70% rule suggests buying a property for 70% of its ARV minus repair costs to ensure profit.
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23 November 2024 | 10 replies
think about it:-when you buy a property, you'll have a down payment, closing costs, rent-ready costs, costs to get set up with a PM, a commission to place a tenant... maybe some light repairs after the tenant moves in...
22 November 2024 | 2 replies
By the way, the tenant should be charged for this as part of "cleaning and repairs."
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22 November 2024 | 7 replies
Maximizing Deductions: You can still claim tax deductions (mileage, repairs, management time, etc.) on both properties as long as they’re legitimately related to rental activity, even if one isn’t in an LLC.
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21 November 2024 | 21 replies
That does not qualify as "managing repairs."
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24 November 2024 | 9 replies
So as long as your insurance, property taxes, property management, utilities maintenance, repairs, vacancy, and capex come to $4/mo or less you’ll be fine.
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13 November 2024 | 1 reply
Considering the high deductible on House B, I am only filing a claim for House A, and coming out of pocket for the cost of repairing or replacing the roof for House B.
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23 November 2024 | 4 replies
don't have to have all the functions just wanted to know what will be recommended. thank you 1. rent collections; 2. late fee handling; 3. auto eviction; 4. 1099 / report; 5. repair work order/ maintenance requests; 6. listing and screenings etc
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20 November 2024 | 1 reply
Maintenance and repairs typically range from 5-7% of rental income, compared to the standard 10%, as new builds have fewer immediate issues.
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13 November 2024 | 2 replies
If I don't make the repairs to the MH I won't be able to rent it at all.