All Forum Posts by: Alan G.

@Jason Kern I've seen this question a hundred times. Here are my thoughts and the way I set up my structures. Stop thinking about the number of properties per LLC and start thinking of the value of the assets in each LLC.

For instance you may want to limit the value of each to 1mm , which could be 10 properties worth 100k each or just 1 property worth 1mm.

As you build your portfolio it will start to get cumbersome having so many LLC s although it may be necc.

I personally have LLCs with a single 7 figure building but have others with 15 or 20 single family homes in them. It really depends on how comfortable you are. It can also change as your portfolio grows.

I’m curious as to how many non renewal letters a year you send to PAYING tenants and for what reasons. (Loud or noisy, rude behavior to others, etc). How many units are you managing?

I own and manage 70 properties with just under 90 units and I send about 1-2 per year. Am I low or really low?

I have a retail tenant scheduled to move in August 1st. However the local municipality is requesting additional documents from my tenant to confirm zoning is ok. We know there won’t be an issue, however we may not have the final go ahead for 2 more weeks. Do I push her lease back to September or hold her to an August date? There isn’t anything in my lease regarding this issue.

@Jeff Campbell. I’ve bought many properties from wholesalers and just like any business, there are good and bad.

The good ones find there own deals. They are honest with the sellers and know what a good deal is. They bring me great deals and I always close. I NEVER mind paying there assignment fee no matter how much it is since it’s already a deal for me.

Then there are the scum bags that lie like a rug to the sellers and try to constantly squeeze additional monies from inexperienced buyers after a contract has been signed.

Sorry, but a blind HUD 1? Why is everything a secret?

Just be honest with everyone you deal with. Do business with integrity. Learn the market you are in so you know a good deal when you see it.

If you do this you’ll have plenty of investors to buy your deals and at the same time you’ll be helping sellers get out of there properties fast.

@Satyam Mistry. Here is my recommendation. Put your systems in place NOW. Systems that would help you get to 50 units. From electronic rent collection to management software (whichever one you choose) to a process for handling maintenance calls to bill paying. It’s easier to plan now and just ride the wave as you grow. Figure out whether you buy under personal name or llc. I’m not telling you how just telling you to plan ahead. It will make growth so much easier.

I put my systems in place on my very first house and use the exact same now that I’m at 70. Yes you can always tweak and adjust but I promise it will Make your life easier.

Good luck !!

@John Warren thanks John. Agreed

My entire portfolio are single family homes and I never install carpet. My homes have hardwood floors that get refinished when rehabbed.

However my new purchase is a mixed use property. Some apartments over commercial and some apartments over other apartments.

All apartments will be fully renovated and I’m concerned that if we put vinyl or hardwood flooring in that we may have trouble with noise complaints on the lower floors.

As a reference this is a “C” area.

Just looking for feedback

@Quincy Lockett this is a great idea that I have used several times. I post an abandonment notice to the door stating that we will enter in 5 days to change locks and secure the property.

Really has worked every time!!!

@Michael Stoltey thanks.

@Mariu Dava. Makes total sense. All of my experience is residential so obviously we do full renovations before showing. Will do thorough cleanings and then list. Thanks for the advice