All Forum Posts by: Gary Hall

Tenants freak out about quite a few things. So yes they often get upset about the fee. I have found that the biggest reason they get mad is they think they are not going to get approved and it will be a waist of their money.

I have seen that if you will let them know what your leasing requirements are and what on those reports would disqualify them and they will leave if they wont pass instead of getting mad.

Those are some great numbers you have there and if the real world worked like that foreclosures wouldn't exist. I work with hundreds of investors and in my limited experience the more debt you have the less likely you are to have positive cashflow. To each his own. We work with all sorts of investment strategies. 

I'm a fan of being debt free. How many properties would you have to have fully mortgaged to  make the same cashflow as you would with the two you have paid off? You also have way more buying power with cash.

We work almost exclusively with out of town investors. For our class C tenants there is no way you could provide the level of service necessary to keep the property performing, for the 10% of your rents we charge, unless you had around 100 units and even then you miss out on a ton of benefits that come from working with a professional team.

That being said if you are going to be working with an out of town PM you NEED to have a working relationship with them. You need to to fly out and see your properties, sit with their maintenance team and find out how and why they fix things the way they do.

Also you need to trust but VERIFY. There are plenty of bad PM's out there. Call them out on a few things every once in a while make them prove to you they are on the ball. 

I would waive the pet fee. With the understanding that it will go back up or higher if they get more pets. 

I never waive a lock out fee.

22 Home portfolio. 100% rented. Profitable portfolio

836K Asking Price. Seller financing might be available.

Contact me for more information.

22 Home portfolio. 100% rented. Profitable portfolio 

836K Asking Price.

Contact me for more information.

Thanks everyone! I have seen quite a few PM's out here that pay at the end of the month or the 15th of the next. I was wondering what was the norm for PM's

If you tenant pays on the 1st of the month how long until those dollars are sent to you?

@Mark Elliott

Mark we have over 400 units under management and the city is the biggest hurdle we have in the area. Most of the corruption is in the Hights. I don't want to say too much in case they are looking but I have never seen anything like it and I lived in Tijuana for a few years.

@Ram Mishra

Lets get together soon. Ill be out of town next week for a wedding in St Paul but any time after that will work. The city of Muskegon is pretty solid. They hate new investors because a lot of out of state people have bought in the area with the plan of sitting on the vacant property until they can sell it later for a profit. Once you prove yourself they work with you.