Quinton Phillips
Do your due dilligence!!
19 August 2022 | 5 replies
But, depending on the property you’re buying, you may not need to review every single one of these (this is where a real estate agent or broker can be helpful as well):Population and job growthHousehold median income trendsAccess to public transportation and amenitiesNeighborhood and school rankingsUnemployment rateCrime rateBusiness openings and closingsNew development activity that could help or harm your intended investmentProperty value trendsFair market rent trendsPercentage of renter-occupied householdsMarket vacancy trendsGross rent collectedMaintenance and repair expensesUtility expensesProperty management, leasing, and advertising feesInsurance expense including past insurance claims, need for flood insurance, and the cost of homeowners and landlord insuranceProperty taxes and potential increase due to change in ownershipProof that any sales tax collected on rent has been remitted and is up to datePhysical property inspections including structural and mechanical, wood-destroying organisms, radon, and lead-based paintTitle commitment on the property and legal descriptionMost recent ALTA (American Land Title Association) surveyZoning or use certificate for property in rural or unincorporated areasNew survey, septic report, and well water report for rural propertiesPhase I environmental report for property near industrial areasHOA covenants, conditions, and restrictionsHOA financial reports including P&L and balance sheetReview of seller financial statements including a copy of the seller’s tax return to verify income and expenses are true as reported to the IRS going back two or three yearsReview of tenant file including the lease terms and conditions, deposit amount, tenant application, and background and credit checksCopies of existing service contracts such as landscaper or current property managerList of all outstanding invoice and proof of payment for all work recently doneLien search to verify there are no existing worker’s liensHistory of insurance claims on the property going back three yearsVerification that property appraisal is for at least the contract purchase price if not moreCompare your pre-offer pro forma analysis to the seller’s reports to make sure the deal still makes sense.Good Luck!
Kenny N.
LLC, dba, license filing questions
19 August 2022 | 2 replies
The LLC agreement is not the same as the articles of organization for a corporation.
Linda Thomas
Losing my sanity , should i sell or hire PM
24 August 2022 | 9 replies
If it's a larger organization, feel free to inquire about their staff qualifications.2.
Jeremy H.
Sheriff's Sale - Pros/Cons - Things to look for/watch out for?
21 August 2022 | 5 replies
I'll finally have an office set up in my new house so I'll be able to better organize and expand.
Reya Ripet
Worried about ever rising stupid property taxes.
23 August 2022 | 18 replies
And each has gone up the full 10%.IMO property taxes are a criminal organization's plan to rob people 'legally' of their property when they can no longer afford to pay .Look at the world economic forum's slogan 'you will own nothing and be happy'.
Shane Benson
Need help, What should I do for the next 9 months?
24 August 2022 | 33 replies
Salary depends on experience and the market, but it should typically pay above average salary for your market. it's a 9-5 job but responsibility varies based on the size of company and how they are organized.
Brian Johnson
Assessing Fees Not Included In Lease
24 August 2022 | 6 replies
I will begin calling these organizations first thing tomorrow morning.
Miles Tiglao
Dealing with suspected PM issues (maintenance bills)
24 August 2022 | 5 replies
If it's a larger organization, feel free to inquire about their staff qualifications.2.
Justin Melendez
Planned BRRRR turned Fix-and-flip
30 August 2022 | 4 replies
We found this deal through our organic marketing channels.
Jon R.
In San Antonio tomorrow
24 August 2022 | 6 replies
Lots of people to meet including the organizer, friend and fellow investor @Todd Nurnberger.