Mica Moore
Property Management Company choose expensive vendor without approval
20 March 2024 | 11 replies
If it was 1 person cleaner their hourly rate would of been like $30ish ( on the high side). 4.
Engelo Rumora
FTX Disaster! What Next?
19 March 2024 | 12 replies
The new CEO recently mentioned that FTX customer funds were used to buy homes for employees and advisors, also had seen a report that FTX personally loaned Sam $3B.
Emory Clayton
SLA Clause for fixing appliances in property?
16 March 2024 | 5 replies
The thought came to mind to ask this question because I've had my personal washing machine and dishwasher both have problems about 2 weeks ago, and I have successfully fixed the washer with a $35 part from Amazon (after watching a few youtube videos), and the part for the dishwasher has still to come in.
Johnna Dean
Getting in touch with other investors
19 March 2024 | 5 replies
Hi Johnna,In person meetups are great ways to build trust and rapport!
Ruth S.
Is a promissory note needed for each state I use a private money lender?
19 March 2024 | 8 replies
The PMLs I have spoken to that have interest are personal family and friends so they don't currently have any contracts themselves.
Lamont Booth
Who's the Host?
19 March 2024 | 11 replies
Should I have my Host info as my LLC name or in my personal name?
Jose Hammer
Qualified Business Income Deduction for Rental Property
20 March 2024 | 2 replies
To be considered a trade or business for the qualified business income deduction, all of these must be true:Your participation in the rental activity must be regular, continuous, and substantial.You conduct the rental activity with the expectation that you'll make a profit.The rental activity is conducted in the United States or Puerto Rico.Rental activities that are considered trades or businesses include:A real estate professional who materially participates in the activityA rental to a commonly owned trade or businessRental activities that aren't considered trades or businesses include:Rentals for less than fair market value (FMV)A lease agreement in which the tenant pays for real estate taxes, insurance, and maintenanceA vacation home that's rented out and also used as a personal home
Dana Powell
Recommendation of lenders who use leases vs market rent for DSCR
20 March 2024 | 15 replies
I have not personally come across any lenders that accept a least above what the appraiser said the market Projections are.
Sanjeev Advani
15 Undeniable Reasons It's Time to Sell Your Investment Property
19 March 2024 | 0 replies
High Maintenance Costs: Escalating maintenance costs can erode your profit margins.Change in Neighborhood Dynamics: Shifts in the neighborhood that negatively affect your property’s value are a red flag.Better Investment Opportunities: Selling might be wise if you've identified a more lucrative investment opportunity.Cash Flow Necessities: If you need liquidity, selling a property can provide a significant cash inflow.Tax Implications: Sometimes, selling can be advantageous for tax reasons, especially if you can benefit from capital gains tax laws.Personal Financial Changes: Changes in your personal financial situation may necessitate liquidating assets.Retirement Planning: Selling investment properties can be part of transitioning into retirement.Portfolio Diversification: Selling might be necessary to avoid overconcentration in real estate.Legal or Regulatory Changes: New laws or regulations can impact the attractiveness of holding onto a property.Ownership Challenges: If the burden of ownership outweighs the benefits, it may be time to sell.Real Estate Market Trends: Anticipating a downturn in the market can be a reason to sell early.Interest Rates: Rising interest rates can reduce the pool of potential buyers and lower property values.Property Value Appreciation: If your property has appreciated significantly, taking profits might be smart.Lifestyle Changes: Sometimes, personal life changes dictate a shift in investment strategies.ConclusionDeciding to sell an investment property is a complex decision influenced by market conditions, personal circumstances, and future investment goals.
Amit Shukla
LLC for vacation rental
19 March 2024 | 10 replies
It is important to have a handy person go through the home once a year.