All Forum Posts by: David Gonzalez

Another idea is to give an experienced agent 80% of commission and offer to do the work with his/her guidence.

I would suggest what ever area you decide to invest in you build your portfolio in one area. Also would suggest you focus on stable multifamily homes in A/B neighborhoods requiring minimal work. Your first couple of deals should be conservative so you can build up your systems/infrastructure and get the hang of it.

Also consider who you are partnering with. Very important!

I am in California and use Property Radar. It's a very good investment!

I would suggest you always increase rent even if it's nominal (like $10). Keeps tenants used to paying more each year. What ever you do never have existing tenants pay more than the same unit on the open market. I have worked at properties that the owner did this. It is a bad idea and more tenants leave because they are mad and not because they can't afford it.

Buildium is a good one. Never used Rentec but that is a good one as well. Appfolio, Propertyware and Yardi are for bigger portfolios and are more expensive.

Yeah I am in the same boat. Would suggest you either learn to partner with some one or you buy in another state. You can also use the creative financing route.

If you have the money continue to mail. If you don't focus on a new list.

If I knew the area or had a lot of cash to burn to learn I would. I feel the area has a lot of upside if you buy right. I would look for multi units so the cash flow can pay for CAPX. For single family homes you might get a great yield but not enough cash to cover CAPX. Don't chase yield and always think about your total risk.

Another idea is that if they can prove they were victims of fraud you will pay them back the deposit and rent but they would have to give you keys and leave. Ask for bank statement proving money was taken out. The eviction process will probably end up costing you more money and time.