All Forum Posts by: Gopichand N.

I would like to offer a different perspective on RTR Academy based on my experience, which, unfortunately, has not been great so far. RTR advertises high returns as part of their marketing strategy, but the reality is that many of their properties do not perform as well as advertised. There seems to be a lack of due diligence before properties are listed, and when questioned about the discrepancies between advertised and actual returns, the responsibility is often shifted to third parties.

While it is true that there are properties within their portfolio that do cash flow, finding these requires careful due diligence on the part of the investor—just like any investment. It's important not to place undue trust in their claims without verifying them yourself. There are a few properties in the Midwest that manage to generate cash flow, although the appreciation is minimal—this is about the best scenario you can expect. While the staff at RTR do try to work with you and accessible, it's important for potential investors not to be swayed solely by glowing reviews and comments. If you decide to join, take their claims with a pinch of salt and conduct your own due diligence.

My experience has not been positive so far, but I am hoping for improvements in the future.

I've been in talks with a mom-and-pop property management company for handling my rental property, and I wanted to get your take on their terms. Here's a summary of what they've offered:

- Monthly PM Fee: 8%

- Markup Fee: 15% on top of bills for services like fridge setup, applicable to any expense over $300.

- Late Fees: They retain 8% of any late fees collected.

- Initial Setup Fee: $300.

- New Lease Fee: $275, but no fees for lease renewals.

- Maintenance: They offer minor maintenance in-house, with the markup fee applying to expenses over $300.

Do these terms seem reasonable to you? Is there anything that stands out as a red flag, or perhaps there are areas you think could be worth negotiating on?

Your insights would be greatly appreciated.

Quote from @Nathan Gesner:

Quote from @Gopichand N.:

I don't have a personal recommendation, but I can provide some generic advice to help you screen a property manager. //property

 I am interested to learn about your advice , should I reach you on DM?

I'm currently encountering some challenges with my family's existing property management company and they are considering a change. Anyone with expertise and experience in the Lutz and Wesley Chapel areas, I was wondering if anyone could recommend any reliable property management companies.

I'm looking for a company known for its professionalism, effective communication, and ability to efficiently handle property management tasks. Any suggestions or insights you could provide would be greatly appreciated.

Thank you in advance for your help. Looking forward to hearing from you soon.

I wanted to share some crucial insights regarding our real estate market discussions. Each realtor here backs their market with substantial data, historical trends, and extensive experience. While their expertise is invaluable, it's important to remember that ultimately, they represent their own interests in the market.

Therefore, I encourage you to take the initiative to run the numbers and analyze the data thoroughly. It's essential to remember that you are the one who needs to do the heavy lifting when making a purchase decision. While realtors provide guidance, the final decision and its implications rest on your shoulders.

If you have trusted advisors or industry experts, now is a good time to seek their opinions. A collaborative, data-driven approach, combined with your personal diligence, will ensure well-informed and beneficial decisions.

Looking forward to our continued discussions and decisions

I am currently in the process of reviewing a contract from a property management company, and I came across a clause that raised some questions.

The contract stipulates that a sum of $500 per property, up to a maximum of $2,500, must be deposited as a contingency reserve. It further mentions that the agent can withhold rental income on a monthly basis, as necessary, to restore the full contingency reserve.

While I understand the concept of a contingency reserve for unexpected expenses, the idea of withholding rental income to replenish the reserve is new to me. I wanted to reach out to you, given your expertise in the field, to seek your opinion on whether this is a standard practice within the property management industry.

Should I be concerned about this clause? Do you consider it to be a fair and standard practice, or is it something out of the ordinary that warrants further scrutiny?

I appreciate your time and look forward to hearing your thoughts on this matter.

Dear BiggerPockets Community,

I am interested in connecting with other active investors who have experience investing in Ocala,FL. I kindly request that only investors who have firsthand experience in the Ocala market respond. I am not looking for realtor pitches at this moment. I believe the insights and experiences of fellow investors will be highly beneficial in understanding the dynamics of this particular market.

If you are an investor in Ocala or know someone who is, I would appreciate the opportunity to connect and learn from your experiences.

Quote from @Ryan Halford:

I've lived in Wesley Chapel and I still live next door to WC in Land O Lakes. Also, I have or have had investments in surrounding areas such as Dade City, San Antonio, Zephyrhills, Land O Lakes, and Webster. Mostly 1-4 units, but this year I am looking to include multifamily. I would be glad to connect. 

 Would it be okay to DM to you ? need similar info as the OP

@Jeremy Kloter @Doug Smith @Josh Green@Keith Turney - I have family living there and have pretty good idea about the Lithia/fish hawk area ,am looking for SFRs in good school districts and tend to finance in a way that it cashflows and Lithia fits that ,I don't mind going out to the Tampa Bay Area but its just that I have a good team in Lithia and also family , any recommendations on property managers, lenders and investor friendly real estate agents in Tampa Bay area, please DM me

I am considering buying an investment property in Lithia, FL, would like to know if anyone in this form invested there and how's their experience so far?want to connect with other investors in this area?