All Forum Posts by: Dave M.

Hey Granville.

Welcome to BP - you said "newbie from Texas" but your profile says San Diego.

Either way, there are many on the site from both locales but you may want to specify if you are in one (or both) so everyone will know and be better able to help.

A filter that deletes your post.

Sorry but your first post on this site you are soliciting feedback without providing any context or details.

Not likely to get much.

Originally posted by Gregory P.:

Something I wanted to clarify: Uwe K., what I meant by "too much work" is that I don't want to deal with late rent, sob stories, kicking people out, and finding new tenants every so often. I'd rather focus my efforts on the other realms where its less emotional and more business...BUT, I am also talking from hearsay and inexperience. Who knows, I might come to prefer landlording!

Sorry, one additional point and I'll let others give their advice.

You summarized good landlording practices without realizing it. If you screen your tenants effectively and set expectations before signing the lease you will minimize many of the problems you mentioned not wanting to deal with.

When they do arise you can either refer back to lease/expectations or evict. If these are not in place and documented then you will spend a lot of time and $.

Originally posted by Gregory P.:

Something I wanted to clarify: Uwe K., what I meant by "too much work" is that I don't want to deal with late rent, sob stories, kicking people out, and finding new tenants every so often. I'd rather focus my efforts on the other realms where its less emotional and more business...BUT, I am also talking from hearsay and inexperience. Who knows, I might come to prefer landlording!

Hire a property manager, pay the 8-10%. If you decide you like that facet of the business later you can take that on.
This will not hinder your ability to get into RE any more than it will hinder your ability to let's say, put your life on the line for someone you don't know. I would say your commitment to serve has demonstrated that you already have the capacity to make personal sacrifices that most of us don't.

You do need to account for times you are deployed or can't respond to emergencies, either via a PM or trusted contractor though.

Anyone else have experience with wholesaling a vehicle you (or your company) personally owns?

Specifically trying to get a sense of the discount to expect vs. the time/effort I will spend listing online trying to sell myself.

If anyone has thoughts or feedback I'm listening....

Originally posted by Rob K:

Here's a good one. I guess sunlight and fresh air are over-rated. At least you don't need to buy curtains.

http://detroit.craigslist.org/wyn/swp/3331269106.html

I like the bars on the INSIDE of the window!

Originally posted by Adam M:

2. What are some pro's and con's in this approach - besides the obvious.

Con: If your target buyer could save up $4,000 they would have put 20% down and owned the property already.

Sorry - to clarify - its a contingent fee, although I recall at least one company charging a $100 processing fee.

Their fee is 50% of first year's tax savings.

Just a guess: they file the same appeal I can online in 5 minutes and if they happen to save someone money they get half. Not much work involved and 0 risk on their part.

The ones who usually call me are from the apartment services. And yes they may have a prospect and will likely fill your apartment. But it will cost you a month's rent like you mentioned. That's basically another 8% a year in overhead.