All Forum Posts by: Dale Lotts

I used Greenwell Realty in the past when I was living in China and could not manage my own properties. 

No property management company is as good as I am <<Grins>> and they are very good. I learned a lot from them.

Just to follow up, I called and left a couple of message for Chippewa Valley property management - they never called back. 

This has been a pretty consistent experience for me with my Cadott property.

I'm still managing remotely and doing my best to find a local investor to buy it. 

I agree with @Marc Jolicoeur, I also charge a fee rather than withholding from the security deposit. I try my best to be very explicit about the process and what is expected. 

I charge three months rent because all of the Tenants obligations under the lease terminate on a predictable date so the Tenant knows exactly how much it will cost them. (Of course, you can charge whatever you think is fair.)

This is the early termination clause from my lease (There are additional instructions in other parts of the lease and the Tenant Handbook but this should give you an idea):

1. The termination date of the Termination Agreement has passed;
2. Tenant has vacated Premises and removed all personal property; and
3. Tenant has delivered all keys and garage door openers to Landlord.

Consider changing your search strategy. Ignore the MLS. Honestly, in most cases if it's on the MLS people are going to pay too much for property in most cases. A 6% cap rate is common on the MLS in MM and ridiculously low IMO. Think of ways for motivated sellers to find you, or for you to find them before there is a for sale sign in the front yard.

Congratulations!!!! That's so awesome! I'll come by and help with the rehab just let me know when to show up!

>>The two happiest days of real estate ownership: the day you buy and the day you sell. :-)

Thanks @Brent Tice, I'll give them a call!  Do you know if they have any experience with Commercial properties?

Hi,

I own a single family property and Multi-Unit commercial building in Cadott, WI. I live in Minneapolis and travel 100% for work so these two properties are difficult for me to manage myself.

Any recommendations for a local property manager? Cadott, Chippewa Falls, Eau Claire, Stanley, or Boyd are nearby.

(not Foxboro, I had a terrible experience with them. I lost 100% of the rent on the one unit that they rented for me!)

I've never been in this situation, but if it were me I would buy it as a duplex and pay accordingly. If you can make the 3rd unit conform (and only if it were vacant), great, otherwise just remove it or leave it vacant.

@Cory Binsfield Thanks, very helpful. This is almost exactly what I do now, and it is clear that I need to add more screening criteria to the ad. 

I also never schedule a showing unless I can speak with them over the phone - I would like keep this rule in place. As I begin to scale the number of units I wonder if I can keep this rule in place.  

Does anybody have 20+ units - can you tell me how screening works for a larger number of units?

@Dana Dunford What you describe is more what I had in mind for the final automated solution - are you using a commercial product to get these features or something home made?