Elijah Berg
Buying In a hot market (Syracuse, NY)
10 June 2024 | 7 replies
There’s so much hype about Micron that folks are willing to pay for potential- don’t do that!!
Morgan Alema
Sell or rent out primary due to move
6 June 2024 | 6 replies
After taxes and selling costs we should net roughly $700-850k depending on final sale amount.
Alana Reynolds
How much do you pay your cleaners?
4 June 2024 | 9 replies
I pay $200 for a clean of my 4 bedroom house, and $235 for my 5 bedroom house.
Manuel Llanas
Considering getting a 2nd property (multiplex in Oregon, where my brother lives at)
8 June 2024 | 4 replies
I would have to pay that off as my brother manages and makes the payments for the property.
Alex Zweydoff
Exploring Additional Services That Could Be Offered by Property Managers
9 June 2024 | 8 replies
When the owner sells, you pay Blanket a referral fee.
Tim Porsche
As-Is House Purchase - Seller Misrepresented - Any Recourse?
10 June 2024 | 11 replies
Also in my market owners pay the water bill.
Tyson Scheutze
The Price of Property Management
8 June 2024 | 1 reply
These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.
Kesha Hamilton
Development Opportunity but limited experience
11 June 2024 | 15 replies
Each scenario would change how much each person could pay for the land to make it profitable for them.
Andrew Voelker
Accounting Software Recommendations
7 June 2024 | 0 replies
I want a simple place to track my P&L's and tax implications like accumulated depreciation and tax deferred tax losses.
Matthew Gentile
MBA, practical to a real estate professional or not?
9 June 2024 | 35 replies
So just had to fullfil my flying desires personally and pay to fly instead of getting paid to fly.