All Forum Posts by: Levi T.

Check your states application fee limits. Our is $50.. background checks only cost $15

Old post that never got answered. BP has grown a lot since that time. I’d also like to learn more about starting a timeshare operation, resort or not, laws, upsides and down. Anyone on BP with industry  knowledge on this?

 Dreams are like hobbies, everyone gots one! 

Some have the brains and drive to turn their dream into a reality, others just like taking courses because it’s something to do, I guess. Not my cup of tea, I like to choose my own adventure and forge my own way.

It’s everywhere frankly, it’s in real estate, tech, business startups.. What industry does not have “gurus” pitching classes for the clueless! A large percentage of people can’t funtion without someone telling them what to do or where to go, they need, want, hand holding. When that need is there, someone is going to fill it.

Sure, we have holding companies, marketing companies, to handle flips, purchases, buy and holds, management, etc. If it’s cheap, it does not hurt to separate things. 

Contracts and attornies handle this type of thing, it is exactly why they are used. You really should have them handling that. People can sell you the assets/debts in the business, but not trademarks or names, or contracts they have with clients, etc. It’s endless. Get an attorney that  specializes in this type of thing.

It’s not worth his time, he will drop you as a client, and go do simpler dealers that give him quicker cash for less work. You'd do better chasing off market deals yourself.

 You have to make a choice, are you in the flipping business or are you in the rental business.  It is better to wait and make a lot more money, then is to take the cash and run. The rental business is a long game, people understand this come out on top  in the long run , everyone else who plays the flipping game is only playing the short game. 

Criminal records are not a protected class under the Fair Housing Act, HUD's recent guidance maintains that criminal history-based barriers to housing have a statistically disproportionate impact on minority groups. Because minorities are a protected class under the Fair Housing Act, HUD's guidance says that creating arbitrary or blanket criminal-based policies and restrictions *could* potentially violate the Fair Housing Act.

HUD speculated out loud.. and now people are advising others to apply background check on a case by case bases, which is dicrimation plain and simple.

Until the FHA is changed, or HUDs opinion is tested in the Supreme Court. It remains just that, random speculation that has no weight to it.

Industry average is 20% net, according to  NARPM.. that’s not hardly thin, in fact, that’s about mundain average for most businesses. There is a huge deference from being a PM and owning a PM company. One works for clients as a PM, mom and pop style, the other has a army of staff all working for them, for the client, and the name of the game is to line your pockets first and foremost..

The traditional Mom and pop PM thinking is to double your profit margin, you need to double your roofs and front doors... But a “good” PM firm knows they don’t need to add anymore doors, they just need to charge extra value-add fees... That’s a more efficient way to double profit. You won’t need more doors, more staff, and more overhead costs.... You charge a management fee, you charge a leasing fee, a renewal fee, then let software renew leases for you. You broker deals with vendors for discounts or not, then add a markup fee and auto route calls to vendors to manage and schedule... then when rents are late you pickup a late fee and leave the landlord high and dry, you repair properties accordingly and bill the landlord to keep your operation printing money... everything I mention just now is “industry standard”. PMs are more profitable than most landlords. A PM should get their 10% cut and nothing else, if they want to get rich they should get into another line of business.

Any landlord on this forums with two cent worth of whit can get on CL and get a fully licensed real estate agent to manage their property for a fair price and not get hosed by value-add pm operation that’s become the norm.