All Forum Posts by: Corina Eufinger

Hi Tim,

You are correct in thinking that with most property managers the larger they get the less about the owners it becomes. Also I have seen that the company may be large in clientele but small in staff, which can create the a problem with handling things efficiently.

Colonial Management and Forward Management are two places to consider.  I have recommendations of where not to go but I don't want to post them on the thread out of professionalism.

Welcome Tyler! Its great to see another person who is involved in SE Was. Congratulations on the duplex, its a great start.

Check CA law to see if it allows you to charge double rent for emery day the tenant occupies beyond lease expiration. It won't necessarily get them out for sure. It can be rather amazing how quickly some tenants get moving when they hear something like that though.

Just be aware going into it that if you choose to make some investments as rentals, the city has numerous additional ordinances regulating rental properties that can be make being a landlord challenging. If you want to invest in a booming area without the extra level of municipal ordinances considering going to waukesha in the west or racing to the south. 

I have 2 LLCs for my 12 units now. I was told to average between 4 and 5 properties per LLC (assuming all duplexes and single family homes). If you have quads or larger i was told one LLC per.

The reason mine re split into 2 right now is because some of them are inherited from my patents so the thought of losing them all due to a lawsuit was too much. So I split them up and will do so again when I start my 3rd and 4th LLC later this year for a bulk 30 unit purchase.

 Sounds good. Let me know when I can help. 

Welcome  to BP and congrats beginning the journey. Your plan to buy one property is a solid start. You will find the community here to be a good resource. I also work in SE Wisconsin as both a property manager and rental owner. Its a great time to be in this area of the state, a lot of activity.

I don't disagree with what the attorney said above. It is a risk but I started taking it when I had too many people walking out of leases before moving in. The money down has helped drastically limit the people who walk away at any point. Nearly eliminating it in fact. Issue with just having the lease signed is of course you can sue the tenant if they walk but chances are you will never get the money then you are out attorney fees on top of the missed rent never to be had.

I did the 3 day. Enjoyed it, learned a good introduction to the different aspects. You don't need the tiered training that follows. Its not worth the money there are other avenues (like BP) for the education and advice. Do the 3 day but don't buy into the sales pitch.

I have attended the 3 day weekend seminar put on by them. I rather enjoyed the seminar and did think it was worth the $190. But I don't believe any of their tier training is worth it. Way, way too expensive (minimum being $15,000 up to $55,000). Its a great crash course to get an overview on the different areas of real estate. But don't buy into the hype of the tiers. BP and books by the authors or at Rich Dad company will serve you quite fine.