All Forum Posts by: Cordell M.

Looking for wholesalers to work with around Lancaster, PA (in and around the city). Message me if interested. Thank you for your time!

Good Morning,

I have seen where others will daily look over the deeds recorded for their farm area.  What sort of things/trends am I looking for when I do this (lots of activity in a given area, particular entity being very active, etc.)?  We are primarily interested in buy & hold as well as flips when the opportunity is right.  

Thank-you for your time

Hi Brian! Welcome, we own a few places out in Berks. Let me know if there's any questions you have! Cordell

This evening while searching Craigslist for rentals or other RE, I came across one of our available units falsely listed by someone else at a different price, terms, etc. Basically the cover picture I posted and the information I posted on another site. Different rent amount, some other modified info. I e mailed them to find out more information about 'their' available unit. I assume others have experienced this as well; any insights on handling it? I'm more concerned of someone else getting scammed out of their money as obviously there is no formal documents/agreements regarding me. Thank you, Cordell

Good morning - This week we evicted a tenant for non payment, constable came out and removed tenant, locks changed, etc. Tenants were placed by our management company that we have terminated our agreement with. While the house is clean and in good shape, they did not move any of their possessions prior to eviction and have stated they would like them, so we have to retain them for 30 days. Any one with experience on how to best handle this; I think we have exposure by letting them in to remove it unsupervised, I do not feel it is in our best interest to be there supervising, we are looking into retaining an off duty law enforcement officer (pending clearing it with their department as extra duty due to insurance, etc.). We have also looked into moving it to a storage unit and allowing them to get it at their leisure. Thank you for your insights, Cordell Martin

Looking for a recommendation on a 'text for info' program/service.  I would like to be able to post (online, on our yard signs, car signs, etc) a message such as 'Text 414 to phone # for open house dates and times' so I am not manually responding to all texts about this.  I change my voicemail greeting to reflect open house dates/times for those that call, just looking for another way to be more awesome.

Thank-you for your time,

Cordell 

My dad, brother and I have an LLC for buy & holds & manage our own units.

My brother is an accountant/CPA, handles the finances.

To be a property manager in the state of PA, I'm of the understanding you need to have a Broker's license.  We were told by an attorney if we self-manage, we're technically managing the entity's property and not our own, as they are in the entity's name and not our personal names (though the three of us are the only members of the entity).  

While he was not discouraging of us self-managing and mentioned it as an informational item, I'm curious if there are other takes or understandings of this. I like the lawyer we've been working with, he owns several units of his own and is involved in a local REI group. But I know none of us are infallible (myself included). Our concern is having a large number of units (currently 12) in the future, and finding out we screwed ourselves by not getting a Broker's license; though we do not want to go through the process unnecessarily either.

Thanks you for your time,

Cordell

If I were to ask for a book, podcast or other resource improve my marketing & sales abilities what would you refer me to? Specifically for getting the word out on vacant units & advertising to perspective tenants. How to win friends by Carnegie is one of my favorites, but any recommendations would be appreciated! Thanks!

Just finishing up 'Pumpkin Plan' by Mike Michalowicz.  Enjoyed it and was able to pull some good things from it...curious ways that others may have implemented some of his suggestions into landlording, buy and hold...

For me -

-reward good clients (tenants) by being extra prompt with customer service/maintenance issues, small tokens of appreciation such as gas card, etc. for consistent, on time rent payment (say for 1 yr of prompt payment).

-Fire bad clients (not renewing problem leases)

-Talking to tenants & listening; i.e. biggest complaint we hear from others who look at our places are 'our landlord never fixes anything.'  Which I'm sure is not unique, but the fix is having lines of communication established up front for how to report maintenance issues, what is emergencies, having water lines/cut-offs clearly marked for tenants, etc.

Others?

Thanks!!!!

Congrats! Check on this site (biggerpockets, the one we're on!) under files there are templates and forms available for multiple landlord related issues. There maybe to help you out with this, if not it's still a great resource for future needs. Best of luck! Cordell