All Forum Posts by: Doug McVinua

@Ashley Chris 

 I see two parts to your question:

Part 1 concerns putting the property in an LLC to protect other assets. Many attorneys recommend this path; a properly set-up and administered LLC can offer good protection. However, a poorly set-up or administered LLC seems easy for attorneys to break and may not provide you the desired benefits.

Part 2: Property Management: In Arizona, you are permitted to manage your own properties. If you want to start managing for others, you then need a Real Estate Broker and will need to structure and set up per the Arizona Department of Real Estate.

There are many different property managers to choose from, and there are some good ones in Arizona. Not every property is a good fit for every property manager, and not every owner is a good fit. You can find one that fits your needs. I have many friends in the business. Some operate similarly to the way I do, and others have a very different model. They aren't wrong or necessarily bad; it's just a different way of doing business than we have.

@Ryan Pham The 60 freeway is also a pretty sharp divide in that area of town. If your property is north of the 60, be sure to use comps north of the 60, and don't go too far west, either. 

@Diana Teng As a broker and property Manager in Arizona, we have multiple clients we have never met in person, nor have they seen their properties. 

When buying sight unseen, it's essential to get the complete picture. I often refer to that as "The Rest of the Story." A property will be marketed and may look great, when I visit the property, I can then share The Rest of the Story with the buyer. Of course, this is all done before we spend money on inspections, etc.

It's all about the relationship you develop with the team on the ground. Invest somewhere you might want to visit at some point. Some invest in AZ with plans to live in AZ at some point. We have a solid inventory of newer properties that will have low maintenance for many years.

@Grace Solano , congratulations on your purchase in Queen Creek, AZ. We live, office, and Property Manage in Queen Creek and love it!

Let me know if any questions arise on the area.

@Aaron Burtzel We would be pleased to offer our Property Management services in Sun Lakes. We have great success with 55 plus properties and love to manage them.

@Tyler Condon I manage a few properties in the greater Phoenix, AZ area that are adult 55 plus and have great success with them. One was purchased a  few years ago by an out-of-state owner who has decided to sell and has doubled in value. Along with doubling in value, it has had one tenant the entire time of ownership, in fact, the out-of-state owners have never seen the property. The tenant wants to stay another 2 years.

My other adult properties have often had long-term tenants. They don't tear things up, they don't party, rent is generally paid early, lots of positive attributes!! A couple of mine are in Mesa, one in Florence, and I just added one in Arizona City. 

@Robert White , I would be willing to provide some guidance regarding your situation. Reach out to me, and let's at least discover if it makes sense to continue. 25-year Realtor in AZ, Broker and Property Manager.

@Dominic Holt , I am happy to review your scenario and suggest changes that could improve your property. Yes, I'm a Property Manager in the greater Phoenix area.

We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

@Ricky Hernandez As a Realtor with extensive experience, I typically guide buyers through the process. I'm not a home inspector, but I point out many items to the buyer, so the buyer enters into the purchase agreement with eyes wide open before spending money on a home inspector. As a property manager who has been around a lot of construction and hundreds or thousands of home inspections over the years, the buyer is generally pretty prepared for the home inspection.

Home Inspectors go deeper into almost every area and are worth their money in the end, almost every time.

Buyers often look at houses online, and many times, I go to the property for them to provide what I refer to as "The Rest of the Story." Sometimes, listing agents leave out vital details we can uncover up front. 

@Ivan Smith As an Arizona Property Manager, I would hire an attorney. You can hire an attorney who will handle this case and all of the Court hearings, etc., for $500.00. With the mistakes that have already occurred, you are already costing yourself more than $500.00.

Once the property is vacant and repaired, I would hire a local Property Manager to oversee it. Your losses in this one situation would pay the cost of Property Management for many years. 

I'm not trying to beat you up, but you are throwing thousands of dollars away trying to self-manage this remotely. You will have unpaid rent, eviction costs, repairs, vacancy, travel costs, etc on this property.