All Forum Posts by: David Van Brunt

@Douglas Skipworth, thanks for the link. I have a phone meeting with the realtor on Tuesday, will find out why he thinks a property manager has to be a junk yard dog to make it work. Found some threads here on BP about PMs in the area. Seems like some good ones are available. 

Just spoke with an old friend and realtor that I trust who knows the Memphis market inside and out. Has spent most if not all of his career there. He says he gets calls all the time from CA and FL investors looking to buy rentals, and of every 10 that call, 9 back out when they learn how unfriendly the laws are to landlords. He says you need a real "junk yard dog" of a property manager to pull it off; many out of area investors have ended in bankruptcy court.  

@Haim Mamane PalmanI'd love to hear your recommendations on good property managers-- I used to live in Memphis (cooper-young area) and I've considered long-distance buy and hold in that market. I know an awesome realtor there, would just want a great and trustworthy property manager.

I'm just starting to look in Omaha, having lived there years ago and wanting any excuse I can find to re-connect there. Since I don't live nearby, though, I would want a partner or good property manager in the area for sure. Would love to know where you landed on this. 

Thanks, both, for the replies. Very helpful! 

I hate to ask, but -- the silence was deafening on that third question. Any reaction? 

Just getting started, and looking to buy first rental property an Norther suburbs of Lake County. Given high property taxes, my calculations are very sensitive to rent assumptions. Have check numbers on Rent-O-Meter and RentFax, which tend to converge around a particular figure. However, If that number is off by a few hundred a month, the single family residence goes from 15% CoC return to nearly 10-- and 12 is my cutoff.

1- in your experience, how good are those estimator service numbers?

2- are there other sources that are more reliable?

3- are my return expectations unreasonable for the area?