Mitchell Hammack
15% Property Management Fees Reasonable?
I've always heard that you can expect to be anywhere from 8%-12% of rent for professional property management. I'm finding PMs who charge that as the base fee... but what I didn't expect is to see a high cost for find...
Michael Plaks
EXPLAINED: Depreciation - myths & reality
Years ago, I was at a CPA conference, and the lecturer finished 30 minutes early. Unheard of, I know, but it did happen. He asked us what we wanted to learn in the remaining 30 minutes. And 300 CPAs in the room almost...
Tim Vecchioni
How to use Private Money/Hard Money on a deal
So I have looked been looking all over the net for the answer to this, have watched 2 webinars, read countless articles, and they all say the same thing! If you have little or no money to use on your own, find private...
Mike McGuire
LLC for each property?
My CPA suggested forming seperate LLCs for each rental property I purchase. He states that this limits my liability if there is an issue with one property. I have just one property currently, but I plan to purchase a...
Account Closed
My tenant stopped paying rent...
Hello, I live in Montgomery County, MD and about 3 month ago I rented my basement to a single lady. I gathered one month security deposit and first month rent at the day of moving. After the first month she stopped p...
Jackson Ramirez
STUCK BETWEEN A ROCK AND A HARD PLACE
It's not often you get a deal like the one that I got. It started back in 2004 when my building decided to go condo. I never bought anything in my life but I figured this was one thing or opportunity that I would not ...
Mike Rubin
Is there anything to do with $2,000?
Is there anything I can do with a $2,000 budget which deals with real estate?
Daniel Karbownik
Purchasing with no money down when the seller has 100% equity
So I'm looking for some advice on how to negotiate this deal. I have come across a seller who has no mortgage on their investment property, lives over 2 hours away from the property, and is fed up with renting, and j...
Alex Locklear
Wells Fargo Short Sale Addendum
I am real close to getting a verbal approval from Wells Fargo on a short sale deal I've been working on.
Today they sent me a couple of more items they need to move forward; one was a "short sale contract addendum"....
Kevin Chen
Purchasing and Managing Out-of-state Property
Hello BP!I am new to the site, so apologies if my initial questions seem basic. I was wondering if any of you have enjoyed sourcing properties in states you do not live in and managing those properties remotely? I was...