Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to,, “Maintain to the Neighborhood”.Why is that important?

Professional inspection reports can prove that the building is well-maintained and structurally sound.Consider working with an independent agent or a broker who specializes in multi-family and historic properties.

But, the overhead of maintaining an LLC is pretty high compared to just getting more liability insurance, so you have to decide what is best for you in the long run.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to,, “Maintain to the Neighborhood”.Why is that important?

A 16% cap rate sounds promising on paper, but the logistics matter a lot: staffing, guest intake, rent collection, compliance with local/state regulations, and community relations can all make or break the business.We’ve helped folks who purchase existing homes and those starting from scratch—developing systems for managing staff, automating collections, maintaining certification, and keeping occupancy high.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to,, “Maintain to the Neighborhood”.Why is that important?

Spend the money for your peace of mind and to maintain an expensive amenity. 

Boilers last longer than you think, was someone living in it and was it maintained?

If so, what minimum percentage do you maintain to keep lawyers away. 

This has included:*Financial oversight with budgets and bookkeeping, having a finger on the pulse of cashflow and financials*Regular communication with partners (business partner, accountant, contractors and investors)*Implementing weekly sync calls to go over short and long term goals/lists (highly recommend the book Rocket Fuel by Gino Wickman on this one)*Strategic planning, focusing on not just the current projects, but looking ahead and having plans in place to maintain momentum*Analysis of each project to determine wins/lessons and use these to continue to improveI think regardless of the business, being intentional versus random and careless certainly makes and impact on progress and scaling.