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5 September 2024 | 14 replies
My Guess is these are likely small enough items/repairs that probably weren't looked at too deeply or considered during the due diligence and inspection, which I would totally understand.
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8 September 2024 | 101 replies
We respond to maintenance requests and fix the items as needed.I refuse to manage for a slum lord.
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5 September 2024 | 16 replies
When talking with a possible Property management company the LAST item to discuss is $, I can't stress this enough.
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5 September 2024 | 7 replies
Just make sure you have a consistent policy for expensing items under this threshold, as the IRS looks for that consistency.In your case, if the Polyurea flooring is just making the garage look nicer and not really improving the structure or extending its life, you could argue it’s a repair.
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5 September 2024 | 4 replies
These loans allow buyers to purchase a property “AS IS, WHERE IS”.Renovation loans are available in 30, 20- and 15-year fixed rate terms and can be used to purchase owner occupied, second home and investment properties.By time the renovations are completed, the home needs to be in move-in, live-in condition and conceptually ready to be resold without repair issues.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Maximum: Limited to 75% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesRenovation Term:The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.
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6 September 2024 | 13 replies
Thanks, Jon I agree with Chris, look at those bills for daily use and you can show them those to give them a granular look at the items for proof of your side!
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7 September 2024 | 11 replies
A few items come to mind.
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4 September 2024 | 7 replies
As Nathan mentioned, if something needs to be replaced, you can charge for the remaining lifespan of that item.
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6 September 2024 | 28 replies
It takes a little work to move your personal belongings out (paperwork, photos, special items), but it's worth it to have someone covering my mortgage and then some while I travel.
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3 September 2024 | 5 replies
And given that many syndicators that offer paid mentorship cost in the 10s of thousands, I would just be very clear with each group you talk to on what you are needing versus what they actually offer.From the bits I have seen about a lot of people's mentorships (to be clear I have not gone through any), they cover market selection, basic underwriting, some marketing, basic legal compliance items.