All Forum Posts by: Chad Miles

Hello investors!

I am in the phase of interviewing property management companies to manage apartment buildings that we are purchasing between 12-25 units. Based on your experiences, what would you say are the "MUST ASK" questions in regards to inquiring about their services and evaluating how effective they are? I'm sure there are many things that experienced investors would know to ask that I would not. 

Thank you for any input!

Chad

Hello investors! 

My brother and I are investing in multi family apartment buildings in the Metro Detroit area and are looking for a good property management group. To begin, we are targeting properties between 10-25 units and will continue to scale from there. We are hoping we can stick with one management company that can grow with us. 

Does anyone have any recommendations based on their experiences with local property managers? I always value recommendations from others based on experience above anything else. 

Thank you!

Chad

@Brian Adams let me clarify what I am trying to accomplish - and maybe this is not the best way to go about it. I appreciate all of your feedback. 

The goal is to create a business model that can quickly be scaled up when it needs to be. In the end, I understand that the best deals come right from the owners. But, rather than do all of the marketing ourselves, we want to use a broker to call upon these owners and create pocket listings for us. The problem is we have no experience, so why would a broker give us any time of day and bring pocket listings to us first? They might if we do the leg work for them. We provide them with a list of the properties and the owner's contact info and we do the leg work for them. This shows that we are serious and have already identified the properties that we are interested in. Then, when one of those owners are ready to sell, they are more willing to bring that pocket listing to us because they see that we are more likely to close and get them paid.

Let me know your thoughts. 

Hello Investors!

I am looking to create a database of the apartment complexes in my target markets that fit my specific criteria and gain contact information about the owners. My goal is to then use this database that I have built to present to brokers. Does anyone have any recommendations of things that they have done to 1) Gather a list of apartment complexes in a specific market and 2) Gather the owner's information of these complexes.

Thanks for any suggestions and help that you may have!

Chad

Hello BP community, 

Essentially my question to you all is this: if everything on an applicant checked out but their credit, would you rent to them if they paid a years rent up front? 

I am a 21 year old house hacker looking for some advice from those with more experience. 

Thanks! 

I am looking for someone with a credit of at least 650.

I am a new investor and I am house hacking and looking to rent out the second unit in my duplex. After laying out my requirements for renting (acceptable credit, income 3x monthly rent, good references, etc), the prospective tenant disclosed that he recently went through a divorce. He is a 45 year old man who has worked at a fortune 500 company for 20 years and has plenty of income, but has bad credit now due to the divorce. Would you make an exception and rent to him even though his credit does not pass the test? Looking for some advice, thanks! 

Hello Bigger Pockets!

My name is Chad Miles and I currently am a 20 year old senior at Michigan State University. Once I graduate in June, I will begin working full time in an IT position in the Metro Detroit area. 

In the past few years, I have been turned on to real estate investing by my father before he passed away. I see real estate as the best avenue to get me to the financial freedom that I desire for myself and my future family. As a young adult, I see this a great opportunity to begin my investing business with lots of time on my hands before the responsibilities of a family and kids.

Ultimately, I want to invest in multi-unit apartment complexes, but realize that I have to start somewhere smaller. This is where I want to turn to the experience of the Bigger Pockets community. In order to gain the funds and experience to invest in apartment complexes, what would those of you with more experience recommend to get started?

In the next 6-8 months, I plan to utilize the "house hack" and buy a duplex which I will also live in while I rent the other side. After that, I plan to continue to invest in small multi family homes that cash flow before I start to slowly move up to places with more units. I'm wondering if there might be a good way to incorporate flipping into my "formula" to gain the capital to eventually invest in apartments. I have a background and passion in design and home furnishing and think that I could put this to excellent use in the flipping business. However, I am wondering if I should focus on one of these strategies, or if there is a good way to attempt to do both? 

Ultimately, I understand the power of networking and how much it means to a business, especially in real estate. I hope to find people that I can learn from and can benefit from my skills as well. I am excited at the opportunity to engage with the Bigger Pockets community and learn from all of the talented and knowledgable professionals!

Cheers, 

Chad