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1 April 2020 | 11 replies
Below are the expenses I am carrying:Expenses:Property Taxes: $1,626 annually ($136/month)Insurance: $714 annually ($59/month)Maintenance and Repairs: $900 annually ($75/month)Capital Expenditures: $960 annually ($80/month)Utilities: $0Advertising/Administration: $300 annually ($26/month)Property Management Fee: 10% of gross income = $1,200 annually ($100/month)Tenant Placement Fee: 50% of first month's rent = $538 annually ($45/month)Turn Reserves (Cleaning): $500 annually ($42/month)BreakdownRental Income $1,075 - 7 % vacancy = $1,000/month ($11,997 annually)Expenses = $561/month ($6,737 annually)Expenses/Gross Income = 59 %For the record, when I called the County Assessor's office, they told me the assessed value is $81,300, and I would be paying 2 % as an investor (number is carried above).
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21 March 2020 | 3 replies
We will get through this but no one knows how long or how deep the economic impact and effects on housing in the short term.
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20 March 2020 | 0 replies
This home is super clean, with an almost completely new interior.
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21 March 2020 | 28 replies
Depending on how deep this goes, all will be affected, but C and B will get the brunt of it, like all recessions before.
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19 March 2020 | 3 replies
For our multifamily assets and commercial assets, we have doubled our cleaning frequency and focus.While we do expect rent payment, we also expect there may be some sort of leniency if payment is not made.
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18 March 2020 | 3 replies
Please let me know if there is a more clean way to hold/manage these properties, and maybe if having a professional do my taxes is a good idea.
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17 March 2020 | 18 replies
If it's a brand new home it won't take much more than a deep clean to get it ready, and no cash out of your pocket.
16 March 2020 | 5 replies
Not that you asked, but waiting until your property is vacant to get it cleaned up and show is SO much easier and it eliminates all of the stress.
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21 March 2020 | 5 replies
More frequent cleaning of common spaces?
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17 March 2020 | 7 replies
Then ask them follow up questions based on what they tell you and dig deep to find out why they are getting lowball offers as they may be justified or they may not.