All Forum Posts by: Ben Kevan

 What an interesting turn of events. Glad to see it's moving forward. Immediately after it's done, I'd consider looking at new property management opportunities.

@Curt Davis I'm guessing that an investor that is willing to jump ship for $10/month is a landlord that has the wrong intention in mind. 

Sure, the goal is the 'make money', but more important is the ability to provide a good living property for your tenant while making money. I can't imagine dropping my PM (assuming they were good) over a fast food lunch a month. 

Thank you, I'll have to review my current contracts in place. My saving grace is that I the property management typically shows me the tenant but doesn't require me to sign any of the tenant leases. 

I'll review the most recent one though. 

Hi, 

How many of you have changed property management companies while having tenants? 

What was the tenants reactions to the change and in the end was the change of property management successful, or did it cause tenants to drop? 

What was your primary reason for changing property managers and are you an hands off / hands on type investor and local or remote? 

Why am I asking? I'm considering looking for a new property management, also whilst looking to put the properties on the market. My primary reasons are I don't feel like my best interest is what the property management is looking forward to. 

I took a short hiatus from investing in a company provided 401k. During this time I saved up some money to put into leveraged real estate rental properties. 

Over those years, the returns on my stocks have out weighed the returns on the properties (even considering the leveraged value of the RE assets). 

Keep in mind, this is 2010+ where the market has done wonders. 

You also have to take into account your tax rate. If you can put a few thousand away and that drops you an entire tax bracket, then why wouldn't you? If you're in a high tax bracket, why not put money away and use it when you're in a lower tax bracket (assuming we don't all get put into a 100% tax bracket at some point haha). 

My plans are pretty straight forward. Try to get enough money in a 401k where I could 'comfortably' survive on a 6% interest return (anything greater would just be rolled back into the retirement account) while utilizing a different stream of cash (i.e., rental income, or other type of cashflow) for additional travel / trips / gifting money. 

I currently have 4 units (2 duplexes) but want to hit the restart button and work on a different approach (more conservative and less leveraged). 

I agree with @Sharad M. . The easiest and most cost effective method of removal would be a contract to leave while paying (although it feels like you're getting taken) the 'tenant' a small amount. 

ENSURE this is within a written contract with absolutely no strings attached with the ability to own all property in the property at the vacate date. 

I'm also an out of state investor with properties (2) in Cleveland. One in the Cuddell area and the other in Tremont (several down from the "Christmas Story House"). 

I've had pretty good experiences over the several years. My first purchase was more turn key with the second being a bit of a fixer upper. 

I'm actually getting ready to put them on the market as I need the liquidity to pay off some debts. 

Currently they are 100% occupied, and I have to agree with property management. My property manager is currently @ 10% of overall rents but sometimes feel like I'm the low man on the totem pole as I only have 2 properties (4 total units).

 Welcome to BP. What area are you looking for? What type or property and/or conditions are you looking into? 

Providing the details of what you'd like to get into would help us better provide information. 

I'm an out of state investor with properties in Cleveland that I'll be putting on the market shortly (once I can find a good solid responsive via email Realtor) and have a good idea of the markets. 

I own 2 properties on Cleveland, and so far haven't had much of an issue. Both properties are 100% occupied.

I'm an out of state buyer (California) and don't have access to travel much (because of my current job duties and job work load).

Fortunately everything seemed to be just fine so far.. However, I have pondered on selling the properties to purchase locally, because I'd like to be a more hands on investor (since these are still my first 2).

I've owned for 1 and 1.5 years.

First one purchased for 57k, rents at 1200 (550 and 650)
Second one purchased at 35k w/ 10k reno and rents at 1200 (550 and 650).

One in Tremont (a couple houses down from the "Christmas Story" house) and one in Cuddell (both on the western side of Cleveland)..

Looking good so far.. I'm loving the speed.. still going to play around with the dashboard more and try some more functional stuff.. need a good picture to play with profile functionality.

Steven,

I'd be interested in the spreadsheet also :o).