All Forum Posts by: Andrew Campbell

I would absolutely add it to LinkedIn if you are thinking of one day taking outside investments.  The more you put it out there and talk about it, the more you'll see opportunities flow your way.  It doesn't have to be your headline Day 1, but I would put it on your profile. 

I agree with the idea of keeping the surface there and finding multiple uses for it rather than completely getting rid of it. 

Painting hopscotch and foursquare lines could give it alternative uses and attract a more family friendly audience as well--without requiring additional expenses. 

I would agree with the fiverr.com recommendation--particularly if you are just starting out. 

I spent 15 years working in Ad Agencies and doing branding, and agree you need to think about your overall message and what you want to communicate.  But how you end up communicating, the way you conduct business, your overall responsiveness, the way you dress, etc--those are all going to promote your brand in a more meaningful way than a logo.  

Don't let a logo get in the way of the bigger things or delay you from taking massive action.  You can always update it later if/when you feel you need to communicate something else.  I'm pretty proud of our branding/website, but I spent much more time thinking about the content and layout than the logo.  I did all the work myself, but am already itching to hire a professional and incorporate things I just can't do.  

Good luck!

@Ken P.  I can't help you much on the Midwest pricing, but we've recently spent a lot of time interviewing property managers here in Texas as we prepare to grow the portfolio.  

To your compensation question--leasing bonuses are pretty standard, though I agree with wanting to balance renewals vs lease ups. It sounds like you are looking at a value-add type property? If that's the case, you can look at giving a bonus to the manager based on NOI targets--so they are equally incentivized to keep expenses down and keep occupancy up. That aligns interests pretty well.

I'd also not be afraid to pay a little more on the payroll side--you truly get what you pay for.  And if you're going to use 3rd party management, that's a critical person on your team.  

Good luck!

@David Graham  You're welcome!  Hope its helpful. 

I've always hired a contractor to do the work.  Construction isn't my strong suit, and I was working full time.  I'd set the budget and help make selections, then just stop in to check on the work and make sure we're keeping to the schedule. 

@Karina Woodward Such a great book!

If I can help you in anyway, let me know.  I look forward to reading your first success story soon!

@Robin Boyer @Brian Garrett  Send me an email or a DM here and we can figure out a time to connect!  Look forward to it!

@Robin Boyer  I'd love to connect and happy to help however I can.  

Thanks everyone for the encouragement. 

@Shawn Madison- Sorry I don't know anything about the Maryland area.  My focus has been Texas, where I grew up and live, and where jobs and population keep showing strong growth. 

@Christine Kankowski--Once you hit the 10 loan limit, you're looking at commercial loans--whether its a 2-unit or a 200-unit.  We've opted to look at the bigger deals, and are sponsoring large multi-family acquisitions.  We closed on our first (the link I posted at the top of the thread) a few weeks ago and are now looking for the next one.  For us, it just made sense to go bigger and execute the same business strategy on a larger scale. 

Until you get complexes that are 60-75 units, it doesn't make sense to have an onsite manager.  For offsite, expect to pay 8-10%.  There isn't a real magic number though.  If you are doing a heavy value add and reposition, it can make sense to have an onsite manager there for smaller properties during the first year or so while renovations are happening.   

Once you have onsite staff (leasing & maintenance), the property P&L will cover payroll expense for the team, and you'll have an additional 3-5% paid to the Property Management company.  Sometimes that staff lives on site at a discounted rate, and sometimes not.