All Forum Posts by: Erik E.

That's helpful.  I'm not having much luck finding any in the Altoona area, so I'll be sure to reach out to those you recommended. Thanks, Jeremiah.

Hi all,

I am a beginner real estate agent and would love to get into flipping houses or fixing them up and making them rentals. My problem is that I don't know anything about the actual repair process so it scares me to buy when I don't know the price of things to fix. I've been an agent for 6 months and in that time I have learned a ton about what to look out for buy reading inspections reports, going to inspections, and meeting field experts. But even with this I don't know the cost of things such as ripping out a wall or putting backsplash under cabinets, etc.

What is the best thing I could do to learn this? I want to learn but don't know where to start. Thank you in advance. 

Hi! Looking for some advice from fellow investors in Cleveland. 

I have been having a hard time over the last 2 years finding a decent property manager. My previous property management kept inaccurate books, was unreliable with owner draw, and placed an unqualified tenant that has taken me a year + to get evicted (still an ongoing process). I finally switched to a new company in Jan 2023. Im getting several red flags, poor communication, took 3 weeks to post a 3 day eviction and then another 4 weeks to file paperwork with the court. I am paying for landscaping services and my long term tenant was reached out to me to let me know the PM has never been to the property for landscaping etc, etc... 

Cleveland has been a rough go for us in terms of finding good help; but I still believe in the potential of this property. I have feelers out on Realty Now and Cleveland Property Management group as potential new PMs. 

Any suggestions of reliable PM in the area? Duplex is located in the Euclid area. 

Thanks!

Julie 

As a former Regional Manager for one of the largest PMs in the country, I can tell you that A LOT of the larger national companies do not share the same values as their clients. In fact, their values and goals often times are in direct conflict with their clients’ goals. 

Generally speaking, as an investor, our goal is maximize NOI. Well, these larger companies have particular revenue goals and are heavily dependent on maximizing their leasing and maintenance revenue. They make A LOT of money off of your vacancy and repairs which is why Brandon Turner states in ‘Rental Property Investing' that "property managers suck because they're incentivized to suck."

In my opinion, you need to find a property manager that JUST charges a monthly management fee, NOTHING ELSE. This removes that incentive and instead, incentivizes the PM to place the best tenant and KEEP that tenant. Otherwise, they’re spending a lot of time and making no money. Which is how it should be! If the landlord does well, the PM should do well. You don’t want a PM company that makes money off of your pain!

speak with Andrew Weiner at Realty Now Property Management.  He manages our Cleveland portfolio.

Highly recommend David Streeter. Search him on Google and you should not have a problem finding him.

What days will you be here? There are a couple good meetup groups that have regular networking events.