All Forum Posts by: Gaemer Gutierrez

@David Avery thanks for the tip and encouragement!

How do you effectively manage renter garbage in small multi-families? Any solutions out there that you see works for you? I own a few 3 family homes and I find managing garbage very challenging. I don't mean garbage that all fits into individual garbage bins, I am talking about large packaging cartons, furniture, or other things that require a pickup. They collect over time. My property manager also does not seem to stay on top of it very well. Calling companies to pick up also tends to add up. Is this just another "cost of doing business?" Any ideas welcome!

@Matingly Norvil One of the best things I did was to buy a 2 family home. I am living in one and renting the other. Just doing this taught me about so many things about management, finding tenants..land even doing Airbnb. From there I have expanded to 6 additional units and about to double that soon. I still live in the 2 family. Basically, get yourself in a situation where you can learn and still make some money.

I have worked with different property management companies. Some provide 3rd party invoices and receipts, some don't. Do you ask your property manager to also provide the invoice that they receive from the vender? Mine currently do not. They show charges on my monthly statement. It's difficult to be sure that I am paying the correct amount on any individual contractor invoices. What is customary?

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I have worked with different property management companies. They are charging 7% and 10% of vender invoices. Do you ask the property manager to also provide the invoice that they receive from the vender? Mine currently do not. They show charges on my monthly statement. It's difficult to be sure that I am paying the correct amount on any individual contractor invoices.

I have worked with different property management companies. They are charging 7% and 10% of vender invoices. Do you ask the property manager to also provide the invoice that they receive from the vender? Mine currently do not. They show charges on my monthly statement. It's difficult to be sure that I am paying the correct amount on any individual contractor invoices.

@dave foster thanks for the feedback! I appreciate it. Part of the reason we are trying to put a larger down payment is to ensure we have decent cashflow. I am finding that this market is not allowing us much flexibility. In my calculations, a more traditional amount like 25% we would not be getting a better ROI and running a deficit cashflow. Our challenge is that I don't have the luxury of waiting out the market to cool a bit since we are already in contract.

Excited that this is my first post....I have 3 properties in the Providence, RI area. I am doing a 1031 exchange using my apartment in New York City. I plan to invest back in the Providence area. I have to replace $1.3 million. As you all are aware, prices are high and inventory is tight. Our plan is to put 50% down on 3 - 3Family homes. I am finding even with 50% down payment, I am only seeing total $500-$700 cash flow per month. 4%-7% Cap and 3%-5% COC. Not the best but I want to avoid the taxes. I want to stay in my area. How would you approach this strategy? Is my strategy workable? Is there something I am not thinking of?