All Forum Posts by: Dana Whicker

I hope you are not opening with the word "mismanagement" in your pitch. A property developer is primarily a manager. That is their area of expertise over and above anything else.

Hi Grace, That's a great area. It would be very hard to go wrong there. Actually, anywhere on the island would be hard to screw up right now.

The only problem will be securing contractors. The building and remodeling going on here is off the charts. It makes it tough to almost impossible find decent labor if you don't have relationships.

I don't want to discourage you because if you can put together a team you can trust you will do great.

Let me know if I can be of any further assistance.

@Nicholas Urcuioli

Well done!

@Jack Bobeck

Keeping your head up and being a boss! Keep at it brother!

The rep who sells office supplies to my W-2 employer is flipping houses on the side. He took me to lunch today and bragged about how well he's doing. He also mentioned he does absolutely none of the work. He has a team that does everything.

That's a sign...

By the way Sean, if you're on BP and you see this, send me a colleague request.

@Gary Kane

Hey Gary I've had a solo 401k for about 4 years and have been very happy. PM me and we'll exchange war stories.

@Bola A.

No do not contact the tenant. There's nothing to talk about. At this point they need to either move or pay every penny that they owe you and there's nothing in between. If the tenant pays all rent fees late fees everything due fine let them take that action.

@An Lam

Just heard a piece on the radio about this today. People are going old school. Not trusting any wiring instructions except by phone verification or even hand written on a piece of paper.

Unfortunately, we tend to lean heavily on email. However, emails are so easy to spoof it's not even funny.

@Andrew Taylor Hi Andrew. I didn't read every response but you had some significant misconceptions about a pool on a property. You will eliminate almost as many buyers as you bring in with a pool. I don't know what the exact number is it I guesstimate 40 50% of the market you have totally eliminated with a pool for a number of reasons. Keep in mind I live in Florida. Ppl with small children, the maintenance, the elderly who couldn't use the pool if they wanted to. You eliminate a bunch of the market by having a pool.

My standard procedure on a flip if the pool needs any kind of significant work I fill it in if it's perfect in pristine I leave it.

@Russ B. I wouldn't just be shopping for a pm. I would, assuming I have documentation of them telling me that I can't see my real estate without them immediately remind the pm that said that who their former customer was in this scenario and beg them to take the situation to court.