All Forum Posts by: Gurgagn Chand

 Yes, feel free to shoot me a message.

I'd recommend LPG Management: https://toledoarearentals.com/

I currently use them to professionally manage 2 of my properties as an out of state investor. They have a dedicated team to assist with any owner/tenant questions, an in-house maintenance crew and an online portal to manage your rentals. Their fees are reasonable and they provide quality renovations. The team is also knowledageable about the area if you ever want to expand your real estate portfolio. I have been using them for 2 years and have not had any hiccups yet (fingers-crossed that continues).....with all that said, a good rule of thumb as a responsible owner is that you still need to pay attention to your balance sheet because human nature occurs and some things can fall through the cracks. Nothing is ever truly passive in real estate no matter which property manager you select. Best of luck!

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Cool, I would like to add a missing point. What's the end goal and exit with this property?

 Minimum 7-10 year hold. I don't plan on selling unless a more favorable investment opportunity arises. Just gonna wait it out for natural appreciation, cashflow and tenant-debt buydown.

 How much do you think this really appreciates in 7-10 years, given we just experienced an inflation boom and this still was sold for $67,000?

I was going to say, I wouldn’t count on too much appreciation with a view like this across the street hehe. 

 Facts haha! Which is why I m not banking on it. If it happens, it happens. 

I'm doing a conservative estimate of 2% appreciation. it might be more, it might be less. The role of this property in my growing portfolio is more of cashflow, debt paydown, and just to get experience. Appreciation is just the cherry on top.

 Looking back, I think a cheaper entry point could have been negotiated, but this one was my first ever purchase and I really wanted something to get my feet wet with. i think the emotional satisifcation of having a first rental was well worth a slight overpay. So far, it has been worth it and hope it continues :)

 Minimum 7-10 year hold. I don't plan on selling unless a more favorable investment opportunity arises. Just gonna wait it out for natural appreciation, cashflow and tenant-debt buydown.

 $67k purchase price, $22k cash out of pocket - it's a small 2bed/1bath and currently rents for $995. 

That was mentioned when I bought the property. Got an inspection report done and it noted a few panels that might have needed replacing (nothing to serious), but once we started opening things up, we realized minor patchwork won't work. So from a capex perspective, it made sense to completely replace the exterior siding (and make it insurable). The roof is functioning, but will kick the can down the road until it needs addressing. Overall it was a small setback but still ended up working out. Guess that's the real side of real estate lol.

Thank you! Definetely trying to build a balanced portfolio one property at a time. The cashflow is always nice cause it's viewed as another source of income and who doesn't like additional money. But the real wealth is made in the equity gains!

Thank you! That means a lot coming from a seasoned investor as yourself. I've been on the BiggerPockets forums for a a year or so and I'll see your insights about the Toledo market show up every now and then. You're advice is super helpful to a relatively newer investor as myself.