All Forum Posts by: Dale Vance

Kyle. I am from Akron and all of my investment properties are in Kent. I like that area. The 8-unit i bought in Canton came on my radar and the price to rent ratio made it very appealing. The area is not great, but the units are rented and the property cash flows well. It’s the dealing with the city on issues that will keep me from buying there again. Kent and Stow areas are where I prefer to be. 

REMAX ended up being a bust. Had to fire them after three months. No reports, not paying utilities on time, no owner deposits. Had to threaten to get my atty involved. Eventually got everything sorted. I did end up going with stewardship property solutions. The Maintenece fee is not that big of a deal to me. All mgmt companies mark that stuff up. So far my experience with Merle Miller at Stewardhip has been great. The communication has been great, we have many lengthy discussions on the phone and i feel good about them so far. We need a bit of a track record for me to have a full report on them. But so far i am pleased.  I don’t recommend buying property in Canton though. Happy to explain why if you need me to. I’ve learned a lot in the last five months......

I just picked up an 8-unit in Canton and had a referral for a fellow by the name of Rick Knight (ReMax) for property mgmt.  Had a nice phone interview with him and let him take over property.  This is all very recent, so I have no feedback per se on the experience, but will up-date this thread down the road.  I too have heard wonderful things about Shirley Pikus, however my property was not in the scope of her management.  

Hello. Looking to expand my market and researching the Cincinnati area. Can anyone give me referrals for a good local realator as well as a GOOD property mgmt co who will not Nickel and dime me to death. Thank you in advance.

I hear all the time these investors who talk about buying a property, fixing it up and then pulling all the money out to buy another property.  What I can't understand, is that if you pull 80% of the equity out to buy another property, all you did was make your payment much larger and you no longer cash flow, or just barely make the expenses....   Thats how I see it.

I own several duplexes........on  two of them I have about 42% equity each.  My payment for each of these two are $1350 each including insurance and taxes.  I only pay for lawn care and mgmt fees.  Each building grosses $2700 a month / $5400 total.  I feel like if I went and refinanced to use the money for another property, then the $1700 or so dollars I am making monthly, will become a few hundred monthly dollars instead.  I understand the principal of having a lot of properties to create wealth, but if I can make $1700 a month with two properties, then refinancing to buy 2-3 more properties with minimal downpayment does not make sense to me...... there will be minimal cash flow from every property, and I'd likely be making the same $1700.....

What are some of your experiences.  The system must work, because folks do it I guess......  I'm on the fence about making this move.  I find some security in having equity in the property and not being leveraged 80/20 on a lot of properties with minimal cash flow from each.

Thanks for your responses.

Dale.

I invest in the Kent area.   I am originally from the Akron area.  I have had success there in finding deals.  You won't make anything in appreciation, but if you buy right you can pick up cash flowing properties.  I have not looked at any value add properties there because of the lack of appreciation.  I have a wonderful Realator there if you ever need one.  

Dale

Hello fellow members.... My name is Dale, and I recently decided to try out BUILDIUM to manage four duplexes that I own in Ohio. Not being to computer savvy, I was wondering if there is anyone in the LA area who might be using this software successfully, and might be willing to spend a little time with me helping me to set it up. I know they have telephone support, as well as a few videos, but I learn best with another person. Im happy to work something out to compensate you for your time. Thanks in advance, and I look forward to hearing from you. I live in the Studio City area to be more LA specific. Thank you.

Hello fellow members.... My name is Dale, and I recently decided to try out BUILDIUM to manage four duplexes that I own in Ohio.  Not being to computer savvy, I was wondering if there is anyone in the LA area who might be using this software successfully, and might be willing to spend a little time with me helping me to set it up.  I know they have telephone support, as well as a few videos, but I learn best with another person.  Im happy to work something out to compensate you for your time.  Thanks in advance, and I look forward to hearing from you.  I live in the Studio City area to be more LA specific.  Thank you. 

Hi, my name is Dale. I recently signed up for Buildium to use to manage my rental properties. I was hoping I could maybe connect with another user of the software to possibly help me set up my properties. I have watched the tutorial videos, and I know they have phone support, but I learn better by seeing and doing. I know your time is valuable, so I would be happy to work out some type of deal. Please reach out if your able and willing. I live in the studio city area. Thank you.

thank you.