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.
Alex Granados
New Member Looking to Network
7 June 2024 | 3 replies
Depending on what you are wanting long term the househack is a great option as well and depending on your situation you might be able to also keep your house in Salem and buy up here.
Mark Albini
Building low cost, section 8 shipping container homes
7 June 2024 | 13 replies
The labor cost there is low so the whole unit cost is relatively low as well.
Account Closed
What is a realistic cap rate/CoC for off market deals?
8 June 2024 | 11 replies
Maybe local investors as well who want real estate safety vs stock market or commodity risk.
AJ Exner
New Member - Post BPCon (Best way to get started on here)
7 June 2024 | 8 replies
I actually host the local sw mo pints and properties meetup and you can bump elbows with local investors that are new and trying to grow their base as well.
Trent Reeve
LVP flooring and "black feet". suggestions on how to clean??
7 June 2024 | 10 replies
there seem to be a lotSo we have this one - https://www.amazon.com/Shark-Steam-Mop-White-Seafoam/dp/B076...Works pretty well.
Michelle Simoni
Cold Call List Recommendations!
5 June 2024 | 14 replies
Your time is most effectively utilized in business development and establishing additional marketing channels.
Kevin Leahy
From D.C. starter condo to Airbnb to corporate rental
7 June 2024 | 14 replies
In retrospect, I did not negotiate very well; I accepted their counter which was just below the list price.
Chantell Johns
Beginner investor hungry for knowledge
3 June 2024 | 7 replies
By reading this platform, I'm sure I just saved myself buyer's remorse and not paying 30k for real success multifamily real estate mentorship.
Joseph Handy
Has anybody used "Lending Deck" for Hard money loans? Scam?
7 June 2024 | 21 replies
Think about going to see there office most lenders do the appraisal and when its done they charge you .. they dont have you send the money up front.. but maybe some do.but worse case scenario if they don't fund your only out 950.00 but many do this and also have non refundable EM thinking the deal is going to close and they lose that as well. that's why reputable lenders are very important to keep you from losing 1 to 5k on a fake lender or more and again I have no clue about this company.. just say in how the fake lenders operate and what your risks are