All Forum Posts by: Arta Montero

@Mark Lewis interesting. Taxes are really high there and rents are definitely about 70/month under marker but we purchased with one year lease. We purchased 2004 fourplex for $225, but still hard to make any cash flow. Hopefully will appreciate

@Joshua D. Wondering if your 11 units are paid off or were purchased at a really good price. Otherwise I can’t imagine even if I purchased 11 units now I could barely make any cash flow and not anywhere close to replace my income . We just purchased a fourplex in McAllen, Texas and thought was one of cheapest place but barely breaking even.

Wondering if you do anything on the side besides the passive income from the houses

@Greg Dickerson wondering how were you able to replace income initially?

@John Teachout my pm was charging me $1000/month on random no value added repairs after they spent 7k in move in cost and told me was ready to go.

I had heard they are bad but didn’t know could be that bad.

@Jorge Vazquez I just broke a contract with property management and they were brutal (no cost considerations and so much conflict of interest including mismanaged in house maintenance team). I had 6 different people call me for the same thing over a six week period. So hard for me to trust them now and don’t want to manage myself either so I definitely lost some motivation because of this experience.

For those of you that have left W-2 job wondering at what point you felt comfortable doing that, was there a certain magic number you had to have, did you have a plan in place before leaving, did you ever look back, what did you end up doing, and how did you manage getting health insurance. I am in engineering/project management and like my job, but sometimes wonder when can I be independent regardless.

@Jason Malabute I had a pm and they were charging me close to $1000/month on random no value added repaid in addition to having paid them $7k for move in turnovers. All for one house.

Definitely a conflict of interest and huge mismanagement . They also encouraged me to have pets and found someone with two pets and came to find out they keep pet rent.

Conflict of interest all around. I was losing sleep over this and paid $1000 to get out of contract, but huge relief.

@Raj Kaushal yes we purchased a fourplex in McAllen , Texas in June without seeing it

@Nina Granberry you are lucky if you getting cash flow. We typically max ROTH IRA every year and max 401k or save for down payments for other properties

@Chris Levarek yes, agree and that’s what I was wondering