All Forum Posts by: Dave Hansen

Thanks @Danny Bower for the referral.  I will call Terrence.  Also @Kelly O'Quinn please send me information about your company.

We are looking for a property manager in Orange County CA to manage 4 unit apartment building, 4 condos and 1 SFR in Fullerton, Rowland Heights, Buena Park, and La Habra. We have just started managing my father in laws portfolio and the first property manager that we used is a dud. While he has collected and raised rents and got new leases from all of the tenants during the first 3 months (rents were way under market and had not been raised in over 5 years), he is not returning phone calls and has been very slow with some of the repairs that have been needed in these units. We have had one vacancy that needed work and has been ready to rent since late June and the PM is just not getting it rented or communicating with us. We definitely need a PM for the properties as both my wife and I have more than full time commitments.

Thank you to
@Ramon Jenkins

@Ramon Jenkins

@Scott Demots

@Rhett Tullis

@Antonio Chasten

@Christopher Hunter

@Ali Boone

for your warm welcome

@Ali Boone cap rates on my first 2 Orlando properties are a little over 6%. I did over 7% in first year with no vacancy and no maintenance. I paid a lot for the sale though. No regrets. This has got me started in the business. I will learn and make better deals in the future. Nick Vertucci was selling properties through radio show in CA. After a year, I actually went to Orlando to see my properties and meet directly with the property management company. I know that I should have done this from the beginning. At any rate, I saw my houses and others that they manage. I feel good about the company and the rehab work that they have done. I am buying another house from them now. This time, I am not paying a referral fee. I am also doing a jv with the turnkey company. I am funding the property prior to purchase, rehab and rental. We have set parameters on neighborhood, square footage, # beds/baths, and minimum rental $. Once the house is rented, the jv will quick claim the deed to me. I am bringing the total purchase price down by over 20% from my previous houses. Process will take 45 days. Cap rate should be 10%. I know that there is risk, but I have been in business with the company for over 1 year now and they have done good work (they are no longer affiliated with Nick Vertucci though). Any thoughts?

@Nick Wing Wow! You are doing things not far from where I live. If you ever have properties that are East of Marengo and are looking for an investor or a buyer, I might be interested. We have a great rental on E. Mendocino that we bought near the bottom of the market in 2012. We have a great tenant for almost 2 years and positive cash flow. Great 2 year appreciation. Our long term goals would be to have multiple properties either SFR or MFR in this area. Not sure if this can happen with a reasonable cap rate. I am also interested in learning about becoming a hard money or private money lender. Thank you.

@Ali Boone thanks

Hey Ali,

Thanks for the post. I have been checking out your website and have read a few of your blogs on BP. I bought 2 houses through Nick Vertucci in Orlando. I probably overpaid, but learned a lot in the process. I am currently buying another property directly from the turnkey provider in Orlando. Looking to buy more and interested in other markets.

I hiked the John Muir Trail last summer. 230 miles in 23 days. Adventure of a lifetime. Looking to have more of these as life goes on...

Hello everyone,

I have been reading the blogs, forums and listening to the podcasts for the the past few weeks. Great information here.

I am a full time music business executive with a passion for real estate. We are building a SFR portfolio. So far we have purchased 1 house in our neighborhood where we are the landlord and 2 turnkey properties in Orlando with property management.

I am here to learn and meet people that can help me build a profitable real estate portfolio.

Excited to be here.