All Forum Posts by: Daniel Garcia

I'm curious to see how your project develops!

I have a duplex in SD off Imperial with tons of space left on the property for adding units. I hope to eventually add units much further down the line, but will definitely be following along on your project to see what I can learn.

Good luck! 

I wasn't thinking of them to be measuring the performance of the units but rather something that's within their scope of expertise. It's still very much an unknown unknown. Nevertheless, your input is a valuable data point, so thank you!

Hi everyone,

I have 3 doors in Central Oregon (Duplex and SFH), I have been working with my current PM for the past year and would like to dial in our process and how we work together.

I would like to define measurable targets for us collectively, in terms of how the properties perform and how we work together. I understand that the performance of the units is contingent on financing, but I have some ideas which isolates financing. 

I understand the scope of this question is very broad, but I'd love to hear your thoughts on any of the following, no bad ideas: 

1) Quantitative (measurable) goals owners have with their professional PMs.

2) Qualitative goals owners have with their professional PMs. 

3) If the PM is only managing 3 units for me is it fair to push them towards these goals or is this unreasonable considering how small the portfolio is? 

Thank you everyone!  

#Kaizen

@Christian Malesic I know I'm waaaaaay late in the game, but do you mind posting that pest clause? Thanks!!

Thanks everyone for your thoughts!

Hi Team,

I have a PM managing 3 units for me in Central Oregon, a SFH and a duplex. They are charging me 9% after I negotiated with them to bring down the cost since they are handling multiple units.

I'm happy using a PM and they have been great about being in communication whenever necessary and never too much so.  I live in Southern California so I'm happy with the team. 

Here is my question: One of the units needs to be flipped and needs a full interior paint job. Is it fair to ask your PM to get you 2-3 bids on a standard interior paint job, or just leave it alone, that's what I hired them for?

I just feel like these are the bulky regular transactions that can quickly add up if you're over charged a few $100 here or there.

Thank you for your thoughts!

Did you ever find a spreadsheet for your needs? I'm looking for something similar without having to buy Quickbooks. I only have 5 units, and am trying to determine the overall financial performance of my portfolio without spending money on software.  Thanks!  

Hey team, I was in escrow (have since closed) to buy a duplex and the two tenants were in 1 year leases ending in 4 and five months from closing.

After closing I get an email from my PM saying, hey btw a new one year lease was signed with one of the tenants.

My question is: is there a way to avoid this from happening in a future transaction? 

A clause or addendum to the purchasing agreement? I feel like the seller's PM did the tenants a favor and locked in their rent.

Thoughts and advice greatly appreciated!

Dang, wish I could make it! I have two properties in the area, but live full time in SD. Next time I schedule a visit to the area, I'll try to be there for this meet up! Cheers everyone!

Thanks @Brent Coombs! I'd love to hear more investors way of penciling this out.