All Forum Posts by: Andrew Hughes

I have used two management companies in Akron and both made me really appreicate self managing. If there is a good management company in Akron I have yet to find them.

@Andrew Neel. Not sure what state you are looking in, but First Federal of Lakewood has always done lower loan amounts for me. Eric Veronica posts here and has done great work for me.

@Jill F. Which commercial lender do you use? We are in the same area and that sounds like a great tool.

As my portfolio has grown I have realized soon it will be too big for me to manage myself. I tried hiring a management company a couple months ago and they did a terrible job. From researching other companies in the area I get the feeling I would get the same results from most of them. I have been thinking a solution would be just finding someone I trust, training them how to run the properties the way I like, and turning management over to them. Has anyone else done it this way and does anyone have insight on this idea?

I recently found a duplex I would like to purchase in north east Ohio. The listed price for it is 54,000. I have been unable to find a bank that will do a mortgage on a rental property for this low of an amount. Does anyone know of any banks in the area that would be able to help me out?

I have been lucky enough not to have any vacancies in my prooperties for the first year and a half and I am about to have my first one. What are the best websites to use for background checks on potential tenants?

This was an interesting topic with lots of good information. For the most part I find the Bigger Pockets podcasts to be informative without too much of an agenda. There are many other real estate podcasts I have heard where there agenda is very obvious though, mainly when it pertains to turn key. As far as contractors, I tend to assume they are trying to cheat me until they prove otherwise. Finding a good team of people to use seems to be the biggest challenge I have come across in my first year of investing.

Yeah 35 percent down wouldn't do it for me. 10 percent down would be interesting though.

I just watched the first episode of Low Budget on YouTube. In the video the guys say that if they had 20k to invest that they would invest in turn key properties and that many companies offer seller financing with as little as ten percent down. Does anyone know of a turn key company that does this because I have not heard of it before this video?

Thanks for the advice Will. So far everything has gone great with it for me. The tenants are awesome and the cash flow is unreal. Filling it is the only thing I have worried about. Seems like if you don't fill one in time you are kind of stuck for the year.