All Forum Posts by: Jesse Stephenson

 Yeah you are right I should be the one out building the business.  Unfortunately right now I am still holding a 40 hour week day job too.  Trying to do too much right now.  I suppose I should pay her a flat rate and have her do admin stuff and show available homes to prospective tenants.

 But what if a self starter wanted to be a property manager under my company's umbrella because they have never done it before and would like the experience and systems we already have in place?  What kind of split should I offer them? 70/30?

How many homes do your managers manage for that pay?

I have a small but growing Property Management Company.  We (my wife and I)  currently manage 50 homes but want to grow to a couple hundred.  I am thinking about hiring an employee (and family member) to help grow the company.  I was thinking of paying a small base salary and then some commission for every new property they get for the company through cold calls, mail outs, door knocking, and networking etc..  On an avg property we charge about $400 the first month for finding a tenant, then about $125/month for managing it afterwards.

  Any ideas on how I should pay them, and what all duties they should be responsible for?

I would consider west columbia, saluda gardens area before I would stick my neck into this neighborhood.  Or rosewood.  Somewhere you can still get in cheap (not this cheap) but rent to college students instead of low income high risk types.

You have 125 dollars and are trying to get a bank loan for investment property? ? I'm confused. .

I am a property manager/realtor/investor in Columbia SC. Willing to help any one in the area.

generally you credit the option fee towards the sales price at closing. You don't actually pay them cash back.

@Matt Granger Welcome Matt, Im a Property Manager/Realtor/Investor and I live in Elgin SC too. Would love to collaborate with you some time.

It just depends on your personal goals Hudson. Many investors just take out 30 year loans to maximize cash flow and interest deductions. But have more risk on their books with the outstanding mortgages. While some like you, would rather have little cash flow but get the property paid off quicker which lowers risk eventually and once it is paid off makes for a much better cash flow and no/low risk profile.

I got a better Challenge for you Dan. Try and buy the house without using a bank or your credit via a Lease Option or Subject to. Instead of sinking 20-25% cash down payment into your first property. Try reading Wendy Patton's Book on investing using lease options and subject to's for ideas and more info on that.