All Forum Posts by: Bryan Cavellier

@Hai Loc thanks for the info, very helpful!!

@Ricardo R. Great post my friend, I appreciate all of the wisdom!

I am curious of property management and their fees. Anywhere from 5%-10% of monthly rent? Lawn or snow maintance is just charged to the owner or is included in the above %. Then come tenant screening time, is there a fee for each tenant screened or a flat rate... Just really curious about how all of it works, thanks!

Best,

Bryan

@Jonathan Newlin no, always keep income/accounts in different places, going all in is not the safe play. Just my POV.

@Leah McNell pick a neighborhood that is not in the city system school district. Also I would suggest getting close to the hospitals so you draw in those tenants. You can make money amywhere with real estate as long as you buy well, dont let people discuriage you... Be patient. DM me if you need anything else!

For me personally, that's a big no. Keep family and business separate!

Looking for the Pros & Cons and/or experiences people have had with owning a property management company and investing in Buy/Hold Rentals. 

Thanks for the input BP Crew!

@Randall Weatherall great point! Yes the plan is to be a tad higher because of a few additions that you don't see in my area (SimplySafe security, washer/dryer, modern appliances/fixtures, etc.) The goal is to just get better quality tenants more than making more money on the rent. 

Do you think it is worth "testing the waters" on rent (making it little higher) and if no one applies then lower the rent after a couple of weeks on the market.

Ie. Rent is a comfortable $850, but I see value in a unit that lends it to be $900-950.

Should I see if anyone is interested at 950?

Looking for pros and cons, Thanks for the thoughts!

@Brandon Spurlock this is sweet, I think this is a HUGE win for a first time BRRRR, you have a unit and enough money to get into another one!