All Forum Posts by: George Pappas

Hello all. I recently purchased a 6 unit mixed use property that is 1.5 hours away from where I live and would prefer to set up online payments, instead of waiting for checks in the mail. Your suggestions would be greatly appreciated.

I want to make it as easy as possible for tenants to pay me without dealing with the hassle of lost checks. 
 

@Brandon Turner - Good Luck!  Looks good.  What's included in the 20 pages other than the analysis of the property?  

@Jessica McKinney - Welcome to BP!  Sounds like your on the right track.  There is A LOT on here that you could learn from that could help you with your goals.  Podcasts, Forums, and Blogs, etc..  Also, check out Bigger Pockets on YouTube.  Brandon and Josh have several webinars on analyzing properties and a recent one on navigating through this site and taking advantage of what it has to offer.  

I really think you should take the time to watch them.  Add some keyword alerts for multi family properties and Houston and you'll be right in the mix.  Good luck!     

@Diem Tran - I think if you are looking at Multi family properties with that many units, and you have never managed a property of that size before, then maybe its best to hire a property manager.  

In the long run, you'll save money by taking the right steps from the start, just like any business.  I know that extra 8-10% extra expense might seem steep and could make or break your deal when analyzing the numbers, but if you're looking to grow, then at some point you will either need to hire someone or start a property management company of your own.  

If the deal doesn't work when adding the property management fee in there, then maybe its not the right deal for you.  If you have your mind set on buying properties in Arizona, then be glad that it is a landlord friendly state, unlike New York.  Also, I would strongly suggest speaking to several property management companies and asking the right questions that would give you a clear idea of who you should hire.  There are blogs on here that discuss this.  

I wouldn't take people's word for it either on their operation.  Anyone can sell you on their company and the work they do.  As a project manager for a real estate developer of commercial properties in NYC, I deal and have dealt with many subcontractors and it takes a while to find the right ones.   

Ask them to take a look at the properties they manage.  Check to see if they keep them clean.  Go back and talk to some tenants politely to see what their relationship is like.  And become a pro member to take advantage of the perks this site has to offer such as the Investment Calculators!  

@Joshua Dorkin - I second what Stephen Barton said above.  Looks great.  These blogs and your podcasts have literally changed my life.  Thank you. 

@Dawn Anastasi - That is also a really good idea thank you.  I think by doing the 3 suggested options above, I will without a doubt analyze these properties better.  

@Kerry Smith -I will look into both websites.  Thank you!  I knew there had to be a way... LOL 

Thanks Rob.  I'll try that

Have you tried mailing out yellow letters to home owners?  

LOL... I can't believe you are asking Brandon and Josh to talk about something else to "distract" investors in your area and steer them towards something else so that you could get yourself a multi family.  

I think you should keep looking, keep doing analysis, or expand the area that you are searching in.  I find it hard to believe that there aren't any duplex's, triplex's or fourplex's for sale in Atlanta.  Reach out to agents in the area that you're looking for and have them notify you when one hits the market and jump on it, if the deal makes sense and works for you.  Do the same with realtor, truly and zillow.  Or... get your real estate license and have access to mls.