All Forum Posts by: Doug French

Thanks for the feedback. Although they are SFH they tend to be grouped in the same developments and they are new units. So there is some efficiency. I will see how it feels this year going from 30 to 45 units. I should know quickly if we can scale with current staffing. Just do not want to learn the hard way.

Thanks for the response. This maybe one of those times trial and error work best. I was hoping there would be a rule of thumb. Thanks again. 

Background: I currently have 30 SFH. 8 of these are model homes that I lease back to a builder NNN (minimual management) with the other 22 units being new construction (less than 5 years old). I currently have my personal assistant doubling as a property manager. I am growing this business and plan on building (My other business is a production home builder) another 15 - 20 units this year.

Question: How many SFH units do I need to keep a full time property manager busy? In my head I always thought 60 units.

Put another way: How many SFH did you have when you hired your first full time employee to manage property?

Thanks in advance!

Check out landsoftexas.com. They have a bunch of farm and ranch type property listed. I searched the town you mentioned and a lot poped up. Might not be an exact comp but a place to start. 

We use BDX to promote some of our communities. In talking with our marketing company they think its effectiveness really depends upon your market. Google "new homes your town name" and see how high up new home source is. It is expensive and we have always had a hard time tracking leads back to BDX.

I went through Champions to get my license 5 or so years ago and do all my continuing education through them as well. Like anything else, you get out what you put into it. You can breeze through the courses and cram for the test. Or, you can take your time to read all the material and really learn. They did offer an exam prep class that I took in the classroom that was helpful. I have done everything else online.

I always expense if I can. I can not recall the exact amount, but CPA has told me before if it is under a certain dollar amount you expense. With that said, I would ask your accountant for clarification.

Just a thought. But, if you re-plat into one lot you are significantly limiting your buyer pool when you go to sale.

Few ways I have seen it done. Interim construction loan where the builder would buy lot from you when he closes into the loan (buy lot at first draw). When home is complete builder conveys title to buyer at closing. One time close where the buyer gets interim loan in their name. On first draw lot would go into buyers name. As construction progresses the builder makes draws and once home is complete builder makes final draw as sole payment (includes profit). The lender who provided interim loan now has permanent loan and as name suggests only one closing is required (at start of construction). It is a little more complicated than that and I am sure I missed some details. Limits risk on builders side and the apprasial is done before construction starts.

In Texas it is about $2-3 a foot. This is the same costs as laminate or tile. I see stained concrete in College product primarily in my market and it provides a more rustic look (brown rust color).

I personally would never install laminate in a rental. I use tile or vinyl wood plank in all common areas with carpet in bedrooms.

IMO it is more about what your market will accept. Or, what adds value to the end user. What are buyers and tenants looking for? It all costs about the same in TX.