Mike Nelson
Owner oversight of managers authorization on spending on repairs
In a 425 unit property managed by a professional property manager, what is the upper limit manager shoud be able to spend on making a repair without getting permission from owner? Sometimes times is of essence in giv...
Brandon Dinsmore
Seeking advice on how to put myself in the best environment
Hi all,
I am 23, currently an electrical engineer and just completed my real estate class. I will be taking the test soon and would like to do that on the side, while getting into rentals and staying employed. I am ...
Jessica Stanek
Deciding down payment considering 6.625% interest rate
Hi y'all! After an appraisal, I have the option to put down 14% instead of 20%. With this mortgage, that would save me $22,500. It would be nice to have that cash on hand for emergencies as well as to furnish the hous...
Derrick W.
Amount of reserves?
Is there a formula or general rule as to how much reserves you have set aside per property?
Garrett Bradshaw
about to close on duplex full rented, advice on smooth transition
We are about a week away from closing on our first rental property. A duplex that is fully rented. Looking for some advise on how to make the transition as smooth as possible. in the process of drafting our letter to ...
Joseph Fenner
What banks give $50,000 to LLC’s to income verification
I am looking for $50,000 to cover my first down payment on a rental property but I don’t have income and my LLC was established in November 2023. The funds will be used for my down payment and the rest will be used as...
Brandon Turner
Leaky Pipe, Naked Tenant, Chain Locked Door: What Would You Do?
Just curious: what would YOU do in this situation? (The lady in this story has a history of "drama" with us - so nothing in this story is unusual.) A tenant called last week about a pipe that has been leaking in her c...
Laura H.
The Shell Game - Pay off Debts or Invest?
I'm trying to take the approach of having my money work for me instead of the other way around. The struggle, however, is balancing what looks good on paper with what I want to do; being disciplined and careful, but n...
Harita Konjeti
Tenant does not let me walk through or fix issues
Tenant does not let me come to house and fix any issues. The house failed inspection due to GFCI outlet not working.What should I do?Asked atleast 3 times and says he is not available. Gave him time for today at 11 an...
Amy McArthur
Reasonable Property Management Agreement
I have just purchased my first rental property, and I would like to have a property manager manage it. I am reading the agreement that I received from a PM that was recommended to me, and there are things in that mak...