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5 October 2023 | 24 replies
If you do not understand these documents that should be sent to you annually, you NEED to, unless an "unexpected" Special Assessment or large increase in monthly fees would not impact your cash flow.The problem with many HOA's is that the Board does not care enough to learn about their own Governing Docs or local laws.
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4 May 2017 | 16 replies
Let's say you have a car accident and you cause damage worth 400k because you rear end a Ferraris push him under the Lambo in front of him and manage to destroy both.
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22 July 2021 | 4 replies
If you can borrow more, I'd use the money for several down payments on places for STR again living in the smaller unit while renting out the others.Either way, keep some of that money aside for the unexpected.
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13 January 2016 | 4 replies
Otherwise something unexpected could arise at closing and then it could be trouble trouble.
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19 March 2021 | 22 replies
Note that you can end up forming partnership with another by accident.
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16 December 2023 | 5 replies
Market conditions can change, renovations can uncover unexpected issues, and tenants can be unpredictable.
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13 December 2023 | 2 replies
(By accident).
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16 December 2023 | 3 replies
You'll only be able to get liability insurance to cover accidents at your place of business, NOT at properties you manage.To cover liability issues at properties you manage you can either:1) Have owners add you as additionally insured to their policies.2) Provide your clients with a blanket commercial policy you add them to.
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17 December 2023 | 3 replies
I had a good amount of savings, but unexpectedly had to demolish a SFH in October....long story....Regardless, that was an expensive project.
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25 June 2015 | 23 replies
$75k + $15k rehab + $5k hold costs/unexpected expenses = under $100k easily.